Tag Archive | "hardship letter"
Is My Hardship Severe Enough to Save My Home From Foreclosure?
With more and more people dealing with potential real estate hardship, it's important for you to understand what it is and how you might possibly find relief--that is, if you can qualify for it. Come find out if the bank's definition of hardship is the same as yours...you might be surprised...
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...Calling Your Servicer About Loan Mods – Is Success Possible?
Tuesday, September 8, 2009
A video released by Freddie Mac says that it is…and that having your documents all lined up and ready to go will help make things easier for you and your servicer. I think you'll agree the video over simplifies a very complicated and convoluted process and makes it appear as if the problem is with homeowners not being prepared when they call their servicer. Com see if you agree...
Continue reading...Interviewing a Professional Hardship Letter Writer
Sunday, May 31, 2009
Last week, I interviewed a professional hardship letter writer to get answers to homeowner-submitted questions. Becky DeGrossa has spent the last 2 years writing hardship letters for homeowners in all sorts of situations. Listen as we discuss what a legitimate hardship is, whether you have to be behind on your mortgage to get them to pay attention, using emotions to play on the heart strings of your servicer, what ABSOLUTELY MUST be in your hardship letter...and what not to put in it.
Continue reading...The 3 Steps Your Lender Must Take for a Home Affordable Modification
Monday, May 25, 2009
Many people don't seem to realize that when their lenders elected to participate in the Home Affordable Modification Program (HMP), they also agreed to follow a very specific step-by-step process to get your monthly mortgage payments down to where your debt-to-income (DTI) ratio is as close as possible to 31%, without going under 31%. So while you may have created your own strategy for reaching payments that you can afford, if it doesn't follow the above steps, it won't matter how ingenious your ideas were. Find out how to join us at 9 pm EST this Thursday (May 28th) for a conference call where Todd and Becky how to write a hardship letter as well by visiting this article on the site now.
Continue reading...Short Refinance or Modify Jumbo Loans?
Tuesday, December 30, 2008
If you have an expensive home that has fallen in value and you're near or in foreclosure, you have some tough choices to make. Is a short refinance or a loan modification right for you? Our mortgage expert from California explains the difference and which is better...
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...The Unfortunate Truth
Monday, October 13, 2008
It seems all the focus in the press and on the Internet these days is about homes in foreclosure and what you can do to exit foreclosure. But what if you're not in foreclosure yet? What if you haven't missed any payments? What if you're struggling every month to put food on the table and pay all the bills but so far you've been able to do so? First of all, let me say you're not alone! You have options...unfortunately, though, they're nearly all dependent upon your lender or servicer. Follow this checklist to start the process...be proactive rather than waiting for the inevitable.
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...Sample Hardship Letter for Foreclosure
Monday, February 18, 2008
As part of your hardship package, you will be required to submit a hardship letter. This is your opportunity to tell your story to the lender's negotiator. While you want to maintain a professional tone throughout the letter, you need to show your personal side and the struggles that put you in the financial situation you're in and put your home into foreclosure. Use this sample hardship letter to begin the process.
Continue reading...- Todd: The bottom line is that once the home is sold, it'...
- Todd: First of all, just because the bank says you CAN s...
- Todd: I'd recommend going to your state attorney general...
- Jane Stewart: Dear Todd, We got behind on our mortgage and was ...
- D Weaver: I applied for the Home Modification program last m...
Monday, May 3, 2010
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