Loan Modification Application

Without a reduction on the interest, I will not be able to afford the monthly payments. I have to choose between a loan modification and a foreclosure. I would far prefer the former, and you probably would as well. 6.25% is the most I will be able to manage, even if I cut all of my expenses out of the picture. Please consider my application seriously and I hope to hear more from you on the matter.

Anyone who works and makes tip or bonuses, especially in cash, needs to be extra mindful of this warning because these are the groups that are most at risk for future problems with the I.R.S. What I would suggest to anyone looking to lower their house payments with the help of the government and their mortgage company, please be as truthful as possible, or do not bother to apply. The legal troubles from the I.R.S aren’t worth it. It is better to just wait for the economy to improve if that is a possibility for you, or look at other options that does not involve the risk of jail and fines. Believe me, you do not want to be audited and possibly face legal troubles, it’s just not worth it. Besides honesty is the best policy.

The bank wants to hear one thing from you. They want to know that you’re never going to miss a payment again. That means you’re never going to default. When it comes to changing the loans on the mortgage, they end up losing money doing this. They want to make sure the losses are a complete minimum or break even with a modification. That requires you to pay on time each month. That is what they want to hear. It doesn’t matter how many orphan children you have, they want you to pay your bills.