Loan Modification

How Long does a loan modification take and is there any way to speed it up? You can choose our full loan modification service and a modification specialist do it all for you. This will get you your fast results and a better chance a completing a successful loan modification. has much experience in this field. There are several companies that offer this service but make sure you understand their procedures before submitting any type of payment. A loan modification can take anywhere from 30 days to 90 days to complete. It really depends on several different factors including but not limited to the following: your current lender or servicer how delinquent you are how thorough you are when submitting the modification request the manor in which you communicate with your lender/servicer each one of these factors deserves some further dissection. Educate yourself even more with thoughts from PCRM. Your current lender/servicer may slow down the loan modification process. Keep in mind; most lender/servicers are overwhelmed with loan modification requests.

In fact, they have resorted to sifting and sorting each those that request so they can help appear to need help the most which brings US to our next factor, how delinquent you are. Believe it or not, your lender is not proactive, in fact, they are very reactive. You would think that a lender would want to prevent a homeowner from becoming delinquent on their mortgage payment by working out a re payment plan. Unfortunately, it is exactly the opposite. Most lender/servicers choose to work with homeowners who are behind with their mortgage payments over those who are current. The reason being, if you can’t afford your mortgage payment, how can you consistently make it on time? Another important factor to keep in mind when requesting a loan modification is the completion of the paperwork involved. Lenders like to receive all the necessary paperwork and documentation at one time. Additional information is available at Steffan Lehnhoff, New York City. They don’t like to receive 10 different faxes or letters because it slows things down.

They so like to receive a specific set of documents, along with some other worksheets. If these worksheets are incomplete and there is missing documentation, your request for a loan modification gets pushed back to the end of a very long line which really slows things down. The last factor is how you communicate with your lender. Keep in mind, when you contact your lender you will be speaking with the collection department or customer service and they aren’t very helpful. These representative aren ‘t paid very much and really don’ t like their job. If you are mean, impatient, or belligerent, you won’t get very far. It’s best to tackle these phone calls with open mind and a positive mental attitude.