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.

Countrywide has several different types of loan workout programs they are offering to qualified homeowners. The loss mitigation department is where specially trained employees work with at-risk homeowners to discover some type of solution. This may be a loan modification or some other type of loan workout, like a repayment plan or forbearance plan. You, as the homeowner, need to understand what your lender will be needing from you and then make sure you prepare all of your information ahead of time. The one thing loss mitigators dread is a borrower who does not know his financial information, or who is so emotional and unprepared that the phone call is a total waste of everyone’s time.

The first step in the Countrywide loan modification process is to get the application forms and then gather all of your financial information-like paycheck stubs, bank statements, etc. You will need these to complete the forms correctly. Your bank needs to get a clear picture of your current financial situation-this is done by providing a detailed accounting of your income, expenses and assets each month. Based on this information, your bank will decide if you fit into their guidelines for a loan modification or loan workout.

Countrywide wants to know what has happened to your finances that caused this situation.  You must also write a letter describing why you need a loan workout. This is usually due to some type of financial hardship, generally loss of income or increased expenses. Again, the loss mitigators want you to be accurate and brief. No need to write a novel, but a descriptive and factual telling of your circumstances will do the trick.

Federal Plan

The Countrywide loan modification process has gotten a lot easier since the Obama Home Affordable Modification Plan has been launched. Why? Because now the guidelines for acceptance are standard for everyone-learn these guidelines and then you can fine tune your application so that you have the best chance of qualifying for a very good loan modification. You can learn and use the very same 4 step formula that your bank will use-and give yourself the inside edge you need to save your home.

Learn how to use the 4 step formula and get the help you need to apply and qualify for a loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

Home Edition Loan Modification Kit with Customer Assist

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes. Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com