Countrywide Loan Modification

You can learn how to deal with your bank effectively on your own.  Here is some basic information about the Countrywide loan modification process that will help beginners gain the knowledge and courage to call their lender and get started. Did you know that less than 15% of homeowners have ever actually spoken with their mortgage holder? That is why it can seem pretty scary to call your lender-especially if you are having difficulties making your mortgage payments. What you need is a little knowledge and preparation so that making the very important phone call won’t seem so intimidating.

If you are trying to get a loan modification with Countrywide Bank, there are a few important issues you need to learn about. While Countrywide Bank is offering a loan workout option to many of it’s distressed homeowners, not everyone will qualify for a Countrywide Loan Modification. You need to learn who qualifies and why before contacting Countrywide Bank about getting help to lower your payment.

A very good source of information to assist you in this process is The Complete Loan Modification Guide handbook. This is a low cost, easy to read, step by step guide that will give you the 7 Steps to a Successful Loan Modification, as well as invaluable negotiating tips to use with your lender. You will also be provided with all the necessary forms, including the financial statements, and detailed instructions on how to complete them properly. The Complete Loan Modification Guide handbook is a must read before you contact Countrywide Bank about your loan modification. Thousands of homeowners have gotten a Countrywide loan modification. So get informed and get going to save your home.

Basic tips on what can make your mortgage loan modification application with Countrywide, work!

* Demonstrate proof of financial hardship – Show documents or evidences, which demonstrates that you have indeed gone through a financial crisis. Countrywide Loan Modification process places a high degree of importance on documents. If you have been laid off recently and trust us, it is not a pleasant thought to discuss, you should furnish the pink slip given to you by your employer.

* Provide supporting documents like medical bills – You must convey to Countrywide that with your existing income, if any, it is very tough for you to manage the mortgage payments. Documents like medical bills, maintenance bills, power bills will help you in this sense to get a Countrywide Loan Modification.

To find out if you qualify is very easy with one service I know of. All you need is some quick and easy info with your loan number. They can call up B of A, give them this information and verify that you do qualify for a loan modification. In addition to that, they can also tell you what your new interest rate and payment will be. All this is done with no upfront fees, so you can make the decision if this is the right financial move for you.