Countrywide Loan Modification Help12 Feb 2010
People love the concept of being homeowners but then God plays the final card; man proposes God disposes. Circumstances get really unruly and a man comes on the verge of losing his house. All such people lose an asset and at the same time lose the prestige they had built over years. This is where Country wide loan modification help comes into the picture.
What would the homeowners not do to prevent foreclosure? Stop foreclosure is the principle on which Country wide loan modification works. It essentially sees the emotional investment that a home is, leave alone the monetary one. Thus it wishes that somehow the home should always belong to the owner.
Bankruptcy and liquidation can be unnerving. The organization looks to give out plans which help the modification or restructuring of the mortgage. The new mortgage settled with the lender invariably has a better interest rate structure, lower principal balance and most of the time an expanded tenure so that the effective EMI’s come down. Such monetary negotiations help a distressed homeowner to get a much needed reprieve.
Now if the home is affiliated by FHA or VA then only such lender-specific negotiation is possible. At the same time, the loan modifications become quite easy as the lender is backed by the organizations and is secured against a borrower default.
Business can also be seen with heart and this is exactly how Country wide loan modification look at foreclosures. In cases, when the lenders are not impressed with the repayment structure, they ask the VA to themselves purchase the loan from the lender and help with an affordable modification. A homeowner is not a fraud looking to run away with money, its just that he’s in deep pits and would like to come up to current mortgage stage with the help of a possible monthly mortgage schedule.
Country wide loan modification has trained staff that has the experience of many practical cases, something that can prove invaluable along the path of stopping foreclosures. Its tough and stressful time for you anyways, so they take most of the load off your shoulder and run errands themselves. They take a fee called contribution but it’s far lesser than the effort that they put.
People trained over weekends are far from ideal, Country wide loan modification claim. It’s very important to be well versed with the Foreclosure law. Further, it’s important to know the difference between a negotiable position and a lost cause.
In all such cases they help with the best short sale process. Short sale is a process where a lender bank buys off the home from a present homeowner at a price lesser than what needs to be paid off by the borrower.
Expert Country wide loan modification loss mitigation professionals look to read the condition of homeowners in separate buckets and negotiate with the lender accordingly.