Loan Modification Made Easy

I found a great article on Inman.com regarding Loan Modifications by Steve Bergsman.

You can find the original article here: https://www.inman.com/buyers-sellers/columnists/stevebergsman/jumpstart-your-loan-mod

A loan modification, as defined by the U.S. Department of Housing and Urban Development, is a permanent change in one or more of the terms of the mortgagor’s loan, which allows the loan to be reinstated with a payment the homeowner can afford.

Steve offers great information on a new website and a piece of software that makes it easy for homeowners to figure out their likelihood of qualifying for a loan modification.

You can check out the website here: https://www.counselordirect.com/

Looking like a fancy, dashboard speedometer of the pre-digital era, the meter’s central indicator swings around from red to yellow to green noting the probability percentage of getting your loan modification approved. It’s actually kind of cool.

It’s nice to see companies working towards helping out instead of hindering homeowners.

There is nothing worse than people and companies wasting time by pointing fingers and trying to place blame on individuals and institutions for the housing crisis we have been faced with. We are much better off trying to find solutions to our current problems, and focusing our energy on helping homeowners who are faced with foreclosure and loans they cannot afford to payback.