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L. K. Craft - Hisayasu

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Member Since: Jul, 2006


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Don't Lose The American Dream
10/17/2007 4:39:18 AM

I watch as my friend tried to save her American dream . . .

     Today many people are stunned at the fluctuating interest rates that have sent some home mortgage payments skyrocketing. The American dream is not only diminishing, but many people who recently bought homes are now faced with the heartbreaking reality of losing them.  Recently a friend of mine was attempting to sort out her dire situation when she learned about a rather unknown process called ‘mortgage modification.'  I was extremely concerned for her, after all, I had been part of the excitement when she bought her home.  Fortunately I was able to watch her go from ‘distraught' to ‘resolved' because of ‘mortgage modification'.  Therefore, it's imperative that I share this information on my blog, especially since she almost lost her home before she found out about ‘mortgage modification.' You are probably saying such a process is too good to be true?  This time, it is true and it saved her home.  Unfortunately it's not necessarily an easy process.  

     The term ‘mortgage modification' is a process rarely known by the public.  It offers the struggling home owner a possibility at re-negotiating and changing the terms of their home loan.  It is based on re-creating a new agreement between the lender and borrower.  At the beginning, she was having problems understanding the concept.  She found her mortgage lender (a prominent bank) unhelpful when trying to get information about ‘mortgage modification.' Her phone call got tossed all over the system, with key bank personnel stating they didn't believe such a process existed.  It appeared that staff were uneducated about the process and no one was able to confirm that such a process even existed.  Finally when she did reach a person that could help her, she wasn't able to understand the terminology let alone the verbal protocols given over the phone.  The lender did not have any brochures or materials that laid it all out.

     She was so frustrated and upset until she learned about a special service that would do all the work for her.   There are only a few companies that have trained personnel in doing mortgage modification.  Many things have to be done prior to filing for a ‘mortgage modification.'   A complete analysis of the financial situation must be properly documented to show hardship. A specialist, trained at auditing and analyzing the situation can assess the hardship for documentation.  Do you recall all the details and paperwork it took to file for the original loan?  The mortgage modification process generally requires re-submitting some new documents, although most lenders will not require and appraisal.  Although some may be able to do the process on their own, my friend contends she couldn't have done it without the service provider.  Time was of the essence and he was trained in everything and knew how to push the process along in a timely fashion.   It's my understanding that the mortgage modification process is different for each lender and outcomes vary depending on the ruling of the lending institution. 

     Long story short, my friend's loan was modified, thus stopping the foreclosure process and saved her home.  Mortgage modification is a process for anyone who is on the brink of losing their home.  Don't let your American Dream fade without looking into this process and seeing if it is viable for your situation.  For more information regarding the process go to: href=""> face=Verdana>   Should you have any questions about this blog article or any other blog articles, please feel free to write me

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More Blogs by L. K. Craft - Hisayasu
• Divine Boldness In Early 70's - Thursday, September 15, 2011
• Be BOLD! - Thursday, September 08, 2011
• We need to diversify immediately!!!! - Wednesday, June 03, 2009
• Susan Boyle - Monday, April 20, 2009
• Pondering Egos and Promises - Thursday, April 09, 2009
• The Largest Book Festival . . . April 25-26, 2009 - Thursday, April 09, 2009
• Drama Returns, Council Resumes - Wednesday, September 03, 2008
• Pundits Stoop Low!!!! - Sunday, August 24, 2008
• Sweet Niblets' - Monday, July 28, 2008
• WOW! Mamma Mia! - Saturday, July 19, 2008
• The New Yorker, I Am Not Amused . . . - Monday, July 14, 2008
• Stuck on 'HOLD' with Time Warner Cable - Wednesday, May 14, 2008
• Disappointed! Antique Roadshow -Palm Springs - Monday, May 12, 2008
• New Features on Authorsden!!! - Friday, April 11, 2008
• You Gotta Smile . . . - Monday, March 10, 2008
• Amazon's KINDLE - Friday, February 29, 2008
• CNN, HARDBALL, MSNBC and FOX Journalist Were NH Primary LOSERS - Wednesday, January 09, 2008
•  Don't Lose The American Dream - Wednesday, October 17, 2007  

• Gasping, Intensity, Exploration! - Wednesday, August 22, 2007
• Sorting Out The Local Candidates Running For Office. . . - Saturday, August 18, 2007
• Empty Promises To Virginia Tech? - Monday, April 16, 2007
• Who Are You Dying To See? - Tuesday, February 20, 2007
• So It’s Just Another Day? - Friday, February 16, 2007
• A Very Strange Day - Saturday, December 30, 2006
• Attended Southern California Writers Conference - Sunday, October 01, 2006
• Journey To Me - Thursday, August 31, 2006
• The Writer's Environment - Thursday, August 31, 2006
• Pondering the Art of Writing . . . - Tuesday, August 29, 2006

BLOODLINES: Legacies of Madness by Terry Vinson

Witness terrifying proof that the ancestral 'gene pool' is horribly contaminated......  
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