Home loan with a major lender?

**mikebishop** · 09-03-2010, 03:51 PM

Have you been successful in modifying your home loan with a major lender?

**jason_simpson** · 09-04-2010, 12:38 AM

Your overall strategy is to prove to the lender that you are in fact in need of help but can and will have the means to continue payment on the new loan modification agreement. You will be required to complete a financial form, listing all forms of income and your monthly debt obligations such as credit cards, car loans, utilities, etc. A quick analysis of your debt to income ratio (gross monthly income divided by your total monthly obligations) will give your mortgage lender a clearer picture of your current financial position.

**TeamAguilar** · 09-08-2010, 03:49 AM

Originally Posted by mikebishop

Have you been successful in modifying your home loan with a major lender?

What you exactly mean by modifying the loan?
Are you saying how to negotiate so as to increase the loan offered by lender or any other means?

**amasters** · 09-08-2010, 08:05 AM

You would think that lenders would by now realize that it pays to work with distressed borrowers. I would just make sure when you call that you're speaking to the right person. Many times the 1st-tier customer service agents don't realize that certain options are available. Anyone in the loss mitigation dep't should be able to tell you about your options.