I found another expert and excellent article on the mortgage modification biz on the internet today. GW Mentor writes and publishes an easy to understand article at RISMedia explaining why your lender is not going to modify your mortgage unless their arm is twisted. The reader who has the time to research a lender’s lack of motivation, and the subterfuge to avoid a mortgage modification; should read and appreciate the information here.
For the distressed homeowner who has reached their limit of tolerance of their mortgage frustration, the cliff notes are: No matter how sympathetic the voice is at the other end of the line, your lender is looking for any reason to NOT modify your mortgage. The REST Report, which uses the bank’s own software to calculate the mortgage modification you deserve, is assuredly your own recourse.
Mr Mantor assumes that the initially distressed homeowner thought a modification should be easy. Not quite. My experience with my clients is that they thought the federal government was out to help them. Not really that either. Then comes the suspicion of any modifier because of all the crooks that have gotten so much press attention for so many months. With 4000 successful REST Reports run so far, one must recognize that if this were a scam, we’d be in jail by now.
Yes the Cavalry IS coming. The REST Report is the answer.
If the media will just go the extra step to really do the research into safe and efficient mortgage modifications instead of reciting the government blather about free, but highly ineffective mortgage modification help, there would be a significant increase in mortgage modification assistance.
I laugh at George’s reference to the mortgage servicer as the ‘pretender lender.’ Too funny. Especially right in the middle of his excellent explanation of why your servicer stands to gain by foreclosing, and therefore benefitting financially more than by modifying a mortgage.
Assuming accuracy of George’s statement that, “The more modifications banks do, the more requests they will get, so it is definitely in their best interest to make it as difficult as possible so as not to open the floodgates.”
Mr. Mantor closes with the same advice I write this blog for: If you are motivated to modify your mortgage and save your home, you start at the end of a very long line. If you want to step to the front of the line, call me.
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The internet being what it is, certain search terms need to be empahasized so that you can find the best information. The REST Report is best classified as loan modification software, or mortgage modification software. It’s claim to fame is that you use it to calculate Net Present Value exactly the way the banks do, using the same software. It is best used as a do it yourself loan modification or do it yourself mortgage modification. For some reason, loan modification 2010 and mortgage relief 2010 are popular search terms.
This YouTube video says it all. Go here: target="_blank">How to Get A Beneficial Loan Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.
Read George W Mantor here
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Originally posted 2009-11-18 22:02:49. Republished by Blog Post Promoter
