Loan Modifications Short Guide To Success Part 3 ? The Endgame

This is our last week in the Short Guide to Loan Modification series. Look out for the links to official websites and resource packages at the end of the article. Third Step. Tell the lender, giving you a loan modification is worth their effort. Lenders are not charitable organizations. They lend for a profit not out of kindness. However if you can convince them that giving you a break is in their interest, that you are worth more as a borrower with a modified loan than as a foreclosure you are half way there. Explain the reason you are struggling to pay, illness, untimely death and losing your job are the reasons most likely to work. Fourth Step. Put it in writing. Send a written request for a loan modification. Make it short and to the point, one page should be enough, provide all the i