Loan Modifications have been getting a tremendous amount of attention lately. The main reason is that Mortgage Modifications may be the only option that millions of homeowners have to better their financial situation and save their home.
The market value of homes have dropped dramatically and banks have tightened their lending criteria, therefore making it almost impossible for homeowners that are in a finanical crisis to be able to refinance. As a result, a Mortgage Modification has become one of the few solutions available to those homeowners.
As with any industry, we have had many players enter into the Mortgage Modification industry. How many times have you seen or heard an advertisement with guarantees to save your home, lower your payments, and reduce your balance? How about the emails that will sell you a book or software to teach you how to do your own Mortgage Modification? We have all seen them, and although they are all good in their own way, they may not necessarily be the best for your circumstances. In order for you to make the right decision, you need to know the advantages and disadvantages of each option available to you. Consider the following and then make a decision based on your circumstances.
SHOULD I USE ELITE FINANCIAL TO ASSIST ME WITH MY MODIFICATION?
We give you the best of both options listed below. If you have the time and patience to navigate the Mortgage Modification process at the banks, if you want to obtain a Mortgage Modification without spending the money on a full service Mortgage Modification Company, then our service is for you. We will assist you with the Mortgage Modification process. You will have our 29 years of experience and knowledge at your disposal. We will tailor our consultations to your specific circumstances. We will review and assist you in deciding whether a Mortgage Modification is the best solution for you. There are many different solutions available, and although a Mortgage Modification is the most prevelant in these times, it may not necessarily be the best solution for you. We will assist and consult you in preparing the Mortgage Modification package to present to your lender. We will be available for consultation as your Mortgage Modification progresses and then we will review the Mortgage Modification offer made by your lender. As we said before, we give you the best of both options, 29 years experience and knowledge that a book can't give you and reduced costs that a full service Mortgage Modification Company can't offer you.
SHOULD I USE A MORTGAGE MODIFICATION COMPANY?
Mortgage Modification companies do serve a purpose. The Mortgage Modification process is not an easy one. It takes alot of time, patience and the ability to negotiate effectively. As Congresswoman Maxine Waters, member of the House Financial Services Committee and the Chair of the Subcommittee on Housing and Community Opportunity, found out , banks are not as consumer friendly as they should be in this process. (You can view the ABC News story from January 22, 2009 by clicking here - ABC NEWS Congresswoman Put on Hold). In that story Maxine Waters stated "The average American trying to negotiate a loan modification will not be able to get it done, It will be impossible for them to get in touch with the right person, and even if they get in touch with a so-called counselor, they have a cookie cutter kind of direction that they go in." Mortgage Modification Companies do eliminate you having to encounter this painstaking task which can be extremely time consuming. They also have the knowledge to be able to negotiate with lenders effectively. The down side to hiring a Mortgage Modification is the cost. It is the most expensive of your options in trying to get a Mortgage Modification. Also, like everything else, you need to make sure you are hiring a reputable Mortgage Modification Company.
SHOULD I USE DO IT YOURSELF MODIFICATION BOOKS AND SOFTWARE?
Knowledge is power. You should attempt to read and learn as much as you possibly can. There are alot books and software available on Mortgage Modifications, none of which we can suggest or recommend because we have not read or used them. If your car broke down and you had no experience in fixing cars, would you buy an automotive repair manual and then attempt the repair on your own? If you answered no, then we would tell you the same should be true in trying to get a Mortgage Modification. Books and software are also generic. Although they may give you good information, the information is not specific to you and our 27 years experience tell us that no 2 situations are alike. This may be the least expensive of your options, but your home is probably the biggest investment you've made in your life. So read the book to gain the knowledge, but we would recommend you not attempt to take on this process with a bank that has much more knowledge than a book can give you.
Disclaimer: Neither Elite Financial Services nor FreshStartOptions.com are government sponsored business nor website. Freshstartoptions.com acts solely as a consultant in the preparation of a modification package for you to present to your lender. To access information on government sponsored assistance, please visit makinghomeaffordable.gov The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the web-site is accurate and complete at the date first published, however you should recognize that information contained on this web-site may become out of date over time. Readers who have particular questions real estate financing or foreclosure, or who believe they require legal counsel, should seek the advice of an attorney. By submitting this contact request, you are consenting to be contacted by foreclosure consultants by telephone or email, even if you have previously listed yourself on any state or federal Do-Not-Call List.
