There are certain occasions where It might be best to have a law firm or Loan Mod Company handle the business of changing loan terms, but in a majority of cases you can easily do it on your own.
I say do it yourself, but really I mean do it yourself by following a step by step plan that shows you exactly how to change your loan terms successfully.
Here are a few Great Reasons to do it on your own:
– Here are thousands of reasons rolled into one; you will save thousands of dollars. These companies and law firms cost $1000 to $5000. That is a lot of money. If I had $5000.00, I could just send it to the mortgage company. I do not have that kind of cash right now, so this option is ruled out.
– The second reason is this, YOU CAN DO IT YOURSELF. Most people think hmm I DO NOT KNOW HOW TO DO IT. Realize this, most loss mitigation companies did not know how just a year or two ago. They learned though. They followed a step by step set of instructions.
– This is an important one too; NOBODY will ever care about your home as much as you do. As long as you are armed with the right step by step plan, you can do it AND nobody will be as persistent as you and nobody will care as much as you. In your mind, you are not just a number. In the mind of some loss mitigation company employee, you are just one of thousands that need a mortgage modification. They know if they throw enough deals against the wall, some of them are bound to stick. When things get tough, they may just put YOUR HOME LOAN MOD on the back burner. This is sad, but true. These companies are swamped.