Tag Archive | "hardship"
Documenting Irregular Income for a Mortgage Modification
I’ve been asked many times what you should do if you have irregular income and you’re applying for a loan modification. How should you report it in the forms to accurately reflect your situation.
Continue reading...Your Lender’s Dirty Little Secret
Friday, January 15, 2010
Have you ever wondered how your lender or servicer decides what to do when you submit a hardship package to them? Come and see exactly how today!
Continue reading...30 Minute Hardship Letter Video Course
Saturday, October 31, 2009
I just finished making this almost half hour long video course. You can watch over my shoulder as I prepare, outline, and write a hardship letter and give you the tips and tricks I’ve learned over the years. I plan to sell this in the near future, but I need honest testimonials from people like you. So, for a short time, I’m going to put it out here for the world to see and leave feedback on. No sign ups or purchases required (right now)…all I ask is that you leave a comment as a response to this blog post.
Continue reading...Home Affordable Mods Come to FHA
Tuesday, August 4, 2009
Do you have a FHA mortgage on your home and wish you could participate in the Home Affordable Loan Modification program? Up until now, you couldn’t…but that’s changed! Come see how as well as why it's a blessing in disguise!
Continue reading...Fannie and Freddie Fast Track Modification Program
Tuesday, January 13, 2009
If you're thinking about trying to use the new Fast Track Loan Modification program to stay in your home, you MUST know what it's going to cost you before you sign anything. It could affect your future bankruptcy right, predatory lending rights, your credit score, and even your ability to sell in the future...check it out so you know what you're getting into.
Continue reading...Fannie and Freddie Fast Track Modification Program
Monday, January 12, 2009
Fannie Mae and Freddie Mac have announced a new "Fast Track" loan modification program. There are very specific qualification guidelines, but if you're in the right situation, it could really help you out. This article tells you how and gives you access to a 57 minute conference call Todd did with Brent Lane explaining it.
Continue reading...Your Secret Weapon
Tuesday, December 16, 2008
One of the most important things you can do to insure the success of your efforts has nothing to do with your knowledge, skills, or income. You have complete control over this secret weapon and can use it to snatch victory from the jaws of defeat. So what is your secret weapon?
Continue reading...Single Biggest Hardship Letter Success Factor
Monday, December 15, 2008
The single biggest factor in whether your lender can help you is usually whether your hardship condition is resolved. If it isn’t, it's unlikely your lender will be able to re-negotiate your loan. The reason is simple...they're legally not allowed to enter a new agreement with you if they know you're unable to meet the conditions of that agreement. What options do you have if you're in this situation?
Continue reading...Writer’s Block Keeping You from Writing a Hardship Letter?
Thursday, October 16, 2008
If you're in or nearing foreclosure, you need to write a hardship letter to explain your situation to your lender. You know that...everyone knows that. Are you stuck trying to decide what you should say or how you should say it? Do you know what your lender expects to see in the letter? If you're looking for info to help you break down your wall of writer's block...good luck finding it on the Internet. It's probably all there, but how do you know if it's correct or not. And do you have the time to devote to finding it and trying to figure out if it's true or not?
Continue reading...What I Forgot to Say
Tuesday, October 14, 2008
Yesterday's post about being proactive and calling your lender BEFORE you miss any payments left one important fact out. I was reminded of this when I tried to call my own lender this morning and got the cold shoulder. Find out why...and what you can do about it.
Continue reading...Feel Like Quitting?
Wednesday, October 8, 2008
With all the gloom and doom in the news today, it can be tempting to give up on trying to negotiate with your lender. The process is difficult, but all you all have to do is persist. The difficulty has a way of weeding out the weak and those that do not have the financial ability to stay in their home. Not all homes can be saved, but if yours can, I hope this encourages you to keep trying.
Continue reading...Some Houses Shouldn’t Be Saved
Monday, September 15, 2008
This post holds nothing back in the interest of "political correctness" or saving your feelings. The intent is to tell it like it is, not to hurt anyone's feelings. There are too many people out there today telling homeowners in foreclosure what they want to hear instead of what they need to hear.
Continue reading...Thinking Differently…Is Your Home or Your Life More Important?
Saturday, September 13, 2008
It's natural to assume you want to save your home from foreclosure. It's natural to want to protect what we have from danger and uncertainty. But sometimes this emotion gets in the way of doing what is truly best for us. I hope this post helps you break through that emotion. No matter what situation got you into foreclosure. Regardless of what your hardship is and whether it is resolved or not, you need to at least consider that it might be far better for you to leave your house rather than fighting to stay.
Continue reading...How to Write a Real Estate Hardship Letter
Saturday, September 6, 2008
Many of the sample letters we've seen on the internet have it all wrong! Keep these 5 tips in mind and you'll get your lender on your side trying to help you rather than rolling their eyes in frustration.
Continue reading...Quit Trying to Save Your Home
Tuesday, August 19, 2008
As much as we hate to admit it, not everyone is going to be able to stay in their home. How do you know if you can? It's actually pretty straight forward because your lender looks at the situation from a strictly financial perspective. When you're in the evaluation stage of deciding whether to stay and fight to save your home or not, you too. Start by asking yourself these four questions.
Continue reading...
- Home Affordable Loan Modifications Begin--Foreclosure Moratorium Ends
- My First Rant -- The Foreclosure Industry
- Make Your Lender Reconsider Your Mod Eligibility
- Hope for Homeowners Equity Sharing
- Create Your Own Hope Rather Than Putting It In Your Servicer
- HAMP Switches Gears…Away from Mods to “Avoiding Foreclosure”
- The 3 Steps Your Lender Must Take for a Home Affordable Modification
- Called on the Carpet for Denied Loan Mods – Is Wells Fargo the First of Many?
- HomeSaver Forbearance from Fannie Mae
- Interviewing a Professional Hardship Letter Writer
- lisamarie: Everybody fight! If they 'lost' all this paper wor...
- lisamarie: If it doesn't work-it should. Bottom line is, thes...
- jim renfrew: yes i used them we had a three way conversion with...
- Todd Temaat: Unfortunately, you don't have much choice except t...
- Todd Temaat: Thanks for your comment. We have no connection to...
Tuesday, March 2, 2010
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