Why can’t these homeowners get a Mortgage Loan Modification?

In this article, the lender they focused on was Litton Loan Servicing. This points out a major flaw in these homeowner’s strategy. As a loan servicer, Litton is almost powerless to sincerely negotiate a successful loan modification. You need to file your mortgage modification as a legal document. A subpoena if you will.

Many homeowners attempt their own moification using significant loss of property value as their main argument. This is a huge mistake. Change in home value is the very last consideration used by any lender. It is not an argument a homeowner should use. Change in property value is the last consideration for a distressed mortgage.

Above all, these unfortunate homeowners don’t have a phone number for a responsible underwriter in the loan servicing (or actual lender) company. The reader must understand that they will never, ever speak to a decision maker at any mortgage servicer. If they let you speak to the decision maker you might write their name down and make them liable in a court foreclosure procedure. Instead, they have a maze of meaningless phone banks that have absolutely no authority at all.

The article accurately notes the devastation to a neighborhood with a foreclosure. The five surrounding houses are almost equally hurt by a single foreclosure.

Currently, the fail-safe method to a mortgage modification is the REST Report. The REST Report calculates the Net Present Value for the distressed property using bank software. When you file an unbiased document showing NPV that advises mortgage modification or short sale
a judge in any foreclosure court will hold the mortgage servicer to that calculation. Every single judge that has seen the REST Report so far has recognized the wisdom of the document.

Mortgage modification and short sale is a do it yourself project.

I am a proud vendor of the REST Report. I also have the best proven Hardship letter anywhere. It has melted the heart of every single cold-blooded mortgage underwriter that has seen it.

For those readers that prefer YouTube videos, try this: How to Get A Beneficial Mortgage Modification Now

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