How It Works

INCLUDES:

  • An easy to use step by step loan modification application software which populates into Loan Modification forms
  • Video step by step directions guiding your every step
  • Your calculated debt ratio, or DTI, both before the proposed loan modification as well as after the proposed modification request
  • User friendly budget populated into the detailed monthly expense worksheet
  • User friendly detailed monthly income worksheet
  • Lender ready checklist takes the guesswork out of what to submit
  • A personalized hardship letter template that allows you to fill in the blanks and customize it to fit your situation
  • A bank ready proposal asking for a specific result
  • A Loan Modification program calculator built in to see how your financial picture fits into the current Loan Modification terms
  • The calculator shows you how much forbearance would be necessary so you know before you apply how the bank will see this figure
  • An NPV calculator
  • A Profit and Loss form template for self employed borrowers
  • Fax coversheet
  • Loan modification request letter
  • Online blog support if you are stuck

A loan workout or loan modification is an agreement that is negotiated with your current lender that changes the terms of your current loan. Because of the mortgage crisis, Lenders are more willing to negotiate a loan modification if a borrower is facing financial difficulties and can’t obtain other financing alternatives. You must show the lender why it would be in the lender’s best interest to agree to a workout arrangement. If convinced, a lender may be willing to reduce the loan interest rate, reduce monthly payment amounts or change other loan terms.

* ALL SUBJECT TO LENDERS APPROVAL, NO ONE CAN GUARANTEE THE OUTCOME, only your lender can approve your loan modification.

A loan modification generally occurs where the parties to a problem loan mutually agree to workout the problem by creating new and better loan terms. The hope is that the new loan will enable the borrower to meet their obligations.

When applying for a loan modification, make a game plan on how exactly you are going to approach your lender or bank. These people are trained in minimizing loss for the lender or bank and they get paid by getting the most amount of money out of you as possible or declare that your case is unworkable and foreclose on you. That is how they mitigate loss. If you understand this, then you’ll know that you have to approach them and all conversations very carefully. Everything can and will be used against you.

After you click Pre-Qualify NOW and fill out the BANK READY Modification forms, you will be directed to a page to purchase your Bank Ready Loan Modification package. Upon Payment of $297 you will have login access to your personal Bank Ready Modification Package and system.  You can immediately print your full application package to submit to your lender or housing counselor.
After you purchase the Bank ReadyLoan Modification Documents, if you require any other help you must post it on the blog site.