Stage 1 - Loan Modification Processing Services (within 0 to 30 days)

1. Client signs all the paperwork and gives us authorization to represent them. (if not already done so)
2. We send the completed information package to the client's lender or lenders.
3. We contact the lender to have the modification case assigned and delegated to a loan rep
4. We send additional requested information to your lender loss mitigation department. We only send what is asked for.
5. We review information with your lender’s loss mitigation department.
6. We start the negotiation by requesting a specific amount of reduction and terms.
7. We review client’s financial state with lender. We discuss all options with lender and we demonstrate why it is in the best interests of the lender to re-negotiate this loan rather than foreclose.
8. We spend HOURS and HOURS emailing the lender, and playing phone tag and leaving voice mails.
9. If the loan rep is not responding, we take the case up to higher levels of management
10. The Lender outlines what they would like to see from the borrower
11. We outline the realistic payment needed.
12. The lender requests additional information that was not requested during the initial contact.
13. We provide the lender with an up to date re-sale value of the property.
14. The Lender resubmits the information to their investor for a decision based on the information we have provided and their perception of the value of the property.

Stage 2 – Loan Modification Processing Services (within 30 to 90 days)

1. The Lender makes first offer.
2. We discuss the offer with our client (homeowner) and we make a counter offer.
3. The Lender makes a counter to our counter. This may go on for days and weeks.
4. Finally, all parties agree on the loan modification terms and conditions.

 

Stage 3 - Loan Modification Processing Services (within 45 to 120 days)

1. The Lender wants to talk to borrower to go over conditions.
2. We receive written conditions from the Lender
3. We review conditions to make sure it is the terms discussed. This is where a "Loan Mod Do It Yourselfer" gets hammered. They are not savvy to the hidden terms
4. The deal is signed by borrower and returned to the lender.
5. The deal is done. The homeowner gets to keep his / her home and has a new lower monthly payment and possibly a smaller loan than what they had before.

 

 

Stage 1 - Loan Modification Processing Services (within 0 to 30 days)

1. Client signs all the paperwork and gives us authorization to represent them. (if not already done so)
2. We send the completed information package to the client's lender or lenders.
3. We contact the lender to have the modification case assigned and delegated to a loan rep
4. We send additional requested information to your lender loss mitigation department. We only send what is asked for.
5. We review information with your lender’s loss mitigation department.
6. We start the negotiation by requesting a specific amount of reduction and terms.
7. We review client’s financial state with lender. We discuss all options with lender and we demonstrate why it is in the best interests of the lender to re-negotiate this loan rather than foreclose.
8. We spend HOURS and HOURS emailing the lender, and playing phone tag and leaving voice mails.
9. If the loan rep is not responding, we take the case up to higher levels of management
10. The Lender outlines what they would like to see from the borrower
11. We outline the realistic payment needed.
12. The lender requests additional information that was not requested during the initial contact.
13. We provide the lender with an up to date re-sale value of the property.
14. The Lender resubmits the information to their investor for a decision based on the information we have provided and their perception of the value of the property.

Stage 2 – Loan Modification Processing Services (within 30 to 90 days)

1. The Lender makes first offer.
2. We discuss the offer with our client (homeowner) and we make a counter offer.
3. The Lender makes a counter to our counter. This may go on for days and weeks.
4. Finally, all parties agree on the loan modification terms and conditions.

 

Stage 3 - Loan Modification Processing Services (within 45 to 120 days)

1. The Lender wants to talk to borrower to go over conditions.
2. We receive written conditions from the Lender
3. We review conditions to make sure it is the terms discussed. This is where a "Loan Mod Do It Yourselfer" gets hammered. They are not savvy to the hidden terms
4. The deal is signed by borrower and returned to the lender.
5. The deal is done. The homeowner gets to keep his / her home and has a new lower monthly payment and possibly a smaller loan than what they had before.