"I had to stop paying my student loans"

Many people seeking foreclosure help or looking to stop foreclosure are mistaken about what lenders will actually do for them during the loan modification process.

This misinformation is largely due to writers (such as bloggers and journalists) that have never actually stopped a foreclosure process or performed a loan modification from a home owner who is trying to avoid or seeking foreclosure help.

They sometimes claim to be “experts” in the area of loss mitigation but nothing can be further from the truth. In this troubled economy, loan modifications are more common than ever but only those who separate the myths from the facts are saving their home.

Here are just a few myths associated with loan modifications:

 Myth #1: You the homeowner who is trying to avoid foreclosure have to be late on your mortgage in order to qualify for a loan modification in order to avoid foreclosure. You do not have to be late but those who are late will get more assistance and attention than those who are not.

Myth #2: Organizations such as 995-HOPE and HOPE NOW are here to protect you. This is partially true. They are funded by lenders and their help will have its limitations because their fiduciary duties are to protect the lender’s interest.

 Myth #3: Lenders and servicers are doing everything they can to help you. This is simply not true. Many of the people who made the bad loans have joined you in the unemployment line and now that the loans (that they made) are going bad, there simply aren’t enough people to handle it all.

Take a look at the short video below that will separate the facts from myth in obtaining a favorable modification.

Find out how I was able to get a 4.25% rate on my own modification after almost 2 years in mortgage back payments!

Yes, not a single red cents for almost 2 years yet I got a rate that is probably as good as someone with a perfect financial situation.