Chelsea Massachusetts

Do you want to get a loan modification? Are you struggling to obtain a mortgage modification? Have you been turned down or is your lender using delay tactics?

Well, the key to your success might be simpler than you think.

According to an insider report, loss mitigation experts agree that most mortgage modifications are turned down due to poor hardship letters.

If you do not have a hardship or if the lender does not think you have a “real” hardship, they will turn your modification request down. Even if you have a hardship but the negotiator does not think your situation is that bad, they will not grant you a mortgage modification.

A solid hardship letter can stand between you and your loan modification. Thus, you should incorporate the following into your hardship correspondence.

Firstly, you have to grab the attention of your negotiator. I actually have seen some of the lame hardship letters sent to various lenders. Everything from “the mailman has been stealing my mortgage statements” to “my wife’s boyfriend refuses to pay my mortgage.” These ridiculous explanations actually ruin a client’s creditability and cause the lender to reject a customer’s modification request.

A second part of the hardship explanation is backup documentation. If you have a hardship and can prove it though providing doctors bills, disability statements or even pictures of a house fire, your chance of obtaining a loan modification increases astronomically.

I had a client whose daughter has terminal brain cancer. No only did we author a moving and convincing hardship letter, but we had them provided extensive medical documentation to prove their case. After being turned down three previous times, our hardship letter caused the lender to promptly provide these folks with much needed mortgage relief.

Finally, you will want to include a timeline of your hardship. Provide exact dates of your documented hardship. This will help the lender/mortgage servicer better understand your overall personal and financial difficulties.

In closing, your hardship letter needs to be articulate and convincing. Plead for your lender’s help and ask for what you need. If you don’t ask, you will not receive.

About the author. Randy Thornhill is founder and owner of Thornhill Financial Group, Inc. TFG, Inc. has been in business since April of 2005. We specialize in conventional lending, loss mitigation, and commercial lending. We have an “A” rating with the BBB (Better Business Bureau). Our management team has over 50+ years in the mortgage industry.

Our Easy Loan Modification Guide will walk you step by step through the loan modification process. What makes this a unique product is that we have a 24/7 Customer Help Line. No other “Do it Yourself” Loan Modification Kit OFFERS THIS IMPORTANT SERVICE. Anytime during the modification process, you can speak with one of our accredited loss mitigation specialists. They will be happy to answer your questions and provide advice.

Please visit our web site at www.easyloanmodificationguide.com or call us at 1-877-262-6315.

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