I just read this great article over at the Arizona Republic showing some of the pitfalls of dealing with your bank to get a loan modification. Some of the highlights:
- Overall, about 15 percent of borrowers across the country who are eligible for the program have been offered help from their lender, according to a recent U.S. Treasury Department report. Of those homeowners, 9 percent have participated in a trial loan modification.
- “Except the new contract called for me to pay $150 more than I was paying for my original mortgage payment. My payment went up.”
- “However, her new monthly payment is only $40 lower than her old payment, not enough to help her.”
The examples in this article are not uncommon. You CAN do a loan modification by yourself. These are the typical results. If you want to see real results, you need to get help.
Call us today to see how we have cut homeowners payments by over 40%. We have clients who’s payments dropped by over $2000. There are solutions out there. Give us a call to see. (480) 389-5199
Keller Williams Arizona Realty