Q & A: Loan Mod or Short Sale!?!
Answer: If you find yourself still in a financial bind even after doing a loan modification, it may make sense to do a short sale if your mortgage is underwater. In many cases you may qualify for up to $10,000 in relocation fees from your lender.
Don't go into a Gun Battle with a Butter Knife (Part 2)
If your like millions of Americans still trying to get a loan modification, you can identify with the frustrations of your lender losing documentation and not returning phone calls. Unfortunately your bank is not your friend and you have to fight to get the best terms for your modification.In a previous post, click here to read, I showed you how to properly package your documents and get it into the right hands at your lender to get you modified. Without getting your loan modification submitted correctly in the first place, you will join the legions of thousands of homeowners running around in a circle.
Loan Mod Q & A..What to do if Unemployed?
Answer - Last year many of the major lenders and servicers teamed up with the government to institute a Mortgage Forebearance Program for homeowners falling back into distress in this economy.
Don't Go into a Gun Battle with a Butter Knife (Part 1)
Without any strict enforcement, lenders and servicers have sent distressed homeowners in a never ending circle of frustrating processes to get loans modified. While the government had high goals of modifying over 20 million loans over the past four years, only a fraction of that really occurred.
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