Loan Modification For Dummies

by Ralph R. Roberts, Lois Maljak, Joseph Kraynak

Overview

The crucial information you need to secure a reliable loan modification and save your home

Behind on your mortgage payments? Worried about losing your home? Don't panic. Loan Modification For Dummies gives you the reliable, authoritative, easy-to-understand guidance you need to apply for and secure a loan modification that lowers your monthly house payment and keeps you in your home.

This practical, plain-English guide leads you step by step through the loan modification process, from contacting your lender to applying for a loan modification, evaluating the lender's initial offer, and negotiating a modification that lowers your monthly payment while helping you catch up on any past-due amounts. You'll learn how to communicate with your bank or loan servicer, recognize and avoid loan-modification scams, and find a knowledgeable loan modification specialist, if you choose not to do it yourself.

• Advice on determining whether you're likely to qualify for your lender's loan modification program
• Guidance on preparing and submitting a loan modification application that improves your chances of success
• Helps you figure out a monthly payment you really can afford
• Tips on modifying your loan even when you owe more than your home's current market value
• Negotiation advice for securing the best possible terms and lowest monthly payment
• Resources for contacting your lender, obtaining free or affordable third-party assistance, and getting government agencies on your side

Read Loan Modification For Dummies and start saving your home today.

Product Details

ISBN-13:	9780470501993
Publisher:	Wiley
Publication date:	08/31/2009
Series:	For Dummies Books
Pages:	288
Product dimensions:	6.00(w) x 9.10(h) x 0.80(d)

About the Author

Ralph R. Roberts is a nationally recognized expert in the fields of loan modification, foreclosure self-defense, and real estate and mortgage fraud prevention, as well as an award-winning author. Lois Maljak is coauthor with Roberts of Foreclosure Self-Defense For Dummies.

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Table of Contents

Introduction.

Part I: Getting Up to Speed on Loan Modification.

Chapter 1: Keeping Your Home by Modifying Your Loan.

Chapter 2: Taking Stock of Your Situation.

Chapter 3: Evaluating Your Options.

Chapter 4: Deciding Whether to Team Up with a Pro or Fly Solo.

Part II: Kick-Starting the Process: Applying for a Loan Modification.

Chapter 5: First Things First: Contacting Your Lender.

Chapter 6: Gathering Facts, Figures, and Documentation.

Chapter 7: Knowing What to Ask For.

Chapter 8: Preparing and Submitting Your Application.

Chapter 9: Keeping the Process on Track and on Time.

Part III: Hammering Out the Details with Your Lender.

Chapter 10: Discussing Loan Modification Scenarios with Your Lender.

Chapter 11: Evaluating Your Lender’s Initial Offer.

Chapter 12: Negotiating a Better Deal.

Part IV: Dealing with an Uncooperative Lender.

Chapter 13: Brushing Up on Your Legal Rights.

Chapter 14: Auditing Your Mortgage Loan.

Chapter 15: Applying Some Legal Pressure.

Part V: The Part of Tens.

Chapter 16: Ten Tips for Long-Term Success.

Chapter 17: Ten Common Loan Modification Myths.

Part VI: Appendixes.

Appendix A: Resources.

Appendix B: Glossary.

Index.