Loan Modification

Is it smart to pay for a loan modification company to help you with your mortgage? A loan modification company is a company that works directly with mortgage companies to negotiate lower payments and rates for their customers.

The normal fee for their services is one mortgage payment. This fee may seem like a lot of money to pay for someone to negotiate with your mortgage company, but it may be worth it.

Can you negotiate with your mortgage company on your own and receive a loan modification? Yes. You have the ability to call your mortgage company and try to negotiate a lower interest rate and payment on your own. It may take you months of calling, waiting on hold, following up and being shuffled around from department to department before you can get anything accomplished.

These loan modification companies have the expertise to negotiate better deal than you can get for yourself and they have the knowledge of who to contact within each mortgage company to make the process smoother. They also have all of the guidelines for each mortgage company to know if you will qualify up front with a simple application you can complete over the phone with them.

So this process may cost you some money up front - if you qualify - but in the end it will save you a lot of time and aggrevation. In the end you may be able to save hundreds of dollars on your monthly mortgage payment. In the end you are paying for a service, but a service that put you in a better financial situation in the end.
Check out these sites:
http://www.loan-deals.com/
http://loanworkout.org/
http://uslossmitigation.com/

These sites can help answer your questions. Please write back on this blog and I can help you answer questions as well.

Check out www.thebriteway.com for your purchase or refinance needs