By Ralph R. Roberts, Lois Maljak, and Paul Doroh, with Joe Kraynak
Behind on your mortgage payments? Worried about losing your home? Don’t panic. Loan Modification For Dummies gives you the reliable, authoritative, easy-to-understand guidance you need to apply for and secure a loan modification that lowers your monthly house payment and keeps you in your home.
This practical, plain-English guide leads you step by step through the loan modification process, from contacting your lender to applying for a loan modification, evaluating the lender’s initial offer, and negotiating a modification that lowers your monthly payment while helping you catch up on any past-due amounts.
You’ll learn how to communicate with your bank or loan servicer, recognize and avoid loan-modification scams, and find a knowledgeable loan modification specialist, if you choose not to do it yourself.
Read Loan Modification For Dummies and start saving your home today:
- Take stock of your situation.
- Assess all options — a loan modification isn’t always the best solution.
- Calculate a truly affordable monthly payment.
- Know what to say (and not say) to your lender.
- Gather and prepare key documents.
- Write an effective hardship letter.
- Explore different loan modification scenarios and choose the best option.
- Negotiate like a pro to get more of what you want.
- Avoid common (and not so common) pitfalls.
- Deal with uncooperative lenders to convince them that a loan modification is in their best interest.
Remember: You’re not alone. Read about the real-world experiences of other homeowners who faced foreclosure and avoided it with a loan modification.
Open the book and find:
- Loan modification explained in plain English
- Proactive, forward-thinking advice
- Reviews of foreclosure alternatives
- Tips for securing the best terms and lowest monthly payment
- Ways to keep the modification process on track and on time
- Resources for obtaining low-cost third-party assistance
- Hints for leveraging your legal rights
- Advice on avoiding the foreclosure trap again
- The crucial information you need to secure a reliable loan modification and save your home