Loan Modification For Dummies

The crucial information you need to secure a reliable loan modification and save your home

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.

Advice on determining whether you're likely to qualify for your lender's loan modification program
Guidance on preparing and submitting a loan modification application that improves your chances of success
Helps you figure out a monthly payment you really can afford
Tips on modifying your loan even when you owe more than your home's current market value
Negotiation advice for securing the best possible terms and lowest monthly payment
Resources for contacting your lender, obtaining free or affordable third-party assistance, and getting government agencies on your side
Read Loan Modification For Dummies and start saving your home today

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

Paperback: 288 pages
Publisher: For Dummies; 1 edition (August 31, 2009)
Language: English