Because there is no guarantee that a homeowner will be approved for a mortgage modification, many homeowners wonder if there is anything that can be done to improve the homeowner’s chances of getting approved. There are some tips that homeowners may find useful.
One tip is that homeowners should keep copies of everything, and keep a record of every communication with the mortgage company. For example, if a homeowner speaks to a representative, the homeowner should note: the representative’s name, the date and time of the call, and what was discussed.
Another tip is to reach out for information as soon as the homeowner feels the mortgage payment is too high. Policies regarding mortgage modifications vary amongst different companies, so it is helpful for a homeowner to know the exact policies that apply to the mortgage as soon as possible.
A final tip is for homeowners to reach out to professionals if the homeowner is feeling confused or overwhelmed at any point in the mortgage modification process. An experienced professional will know exactly how to proceed, and likely has interacted with the mortgage company before. A professional will take care of all of the paperwork and tell the homeowner exactly what needs to be done to complete the application.
The Mortgage Modification Center
Hiring a professional to represent you in your mortgage modification process may improve your odds of getting approved as well as improve your level of stress! If you think that you may benefit from being represented, please call the Mortgage Modification Center at (401) 467-7998. Attorney John S. Simonian has modified numerous mortgages on behalf of his clients, and offers a free initial consultation to discuss your options.