Are you struggling to make your house payments or facing default and the very real possibility of losing your home?  Thousands of homeowners have already received help with a do it yourself loan modification-read on to find out if this might be an option for you too.

You have probably heard about do it yourself loan modification but wondered if you would have a better chance of success if you hired a loan modification company.  Well, there are plenty of companies out there willing to take your hard earned cash as an upfront fee to help you.  Here is the real question-can you work directly with your lender to get a loan modification or should you pay thousands of dollars to a loan modification company in hopes of getting a better result?

Every situation is unique and while some borrowers might feel comfortable working on a do it yourself loan modification, others will not and will consider hiring a loan modification company.  Just keep in mind that there is currently very little regulation or oversight in the loan modification industry, so buyer beware.  Before you hand over any money make sure you have verified a few facts:

• Do you know if you meet the lender’s general guidelines for loan modification approval?  Some companies will take your money only to be told later that you did not qualify
• Is the company duly licensed and doing business legally?  Each state has their own requirements, check with your Department of Real Estate to make sure any company you are considering is legitimate.
• If you retain a firm that states they have an attorney handling the files, make sure you verify the affiliation and that the attorney will in fact be working gn your case-not hand it over to a processor at an “affiliated” company.

If you decide that it will be more beneficial for you to work on a do it yourself loan modification, the first step is to take the time to research your lenders loan modification guidelines.  It is pretty hard to qualify for something that you do not even know the requirements for.  Call your bank and ask them for an application packet.  Find out what their debt ratio guideline is and how much disposable income they like to see after the loan has been modified.  These are the two most important qualifications for loan modification help.

Once you know this information, you can complete the financial statements properly and improve your chance for success.  You may have to adjust the family budget or eliminate any unnecessary items, so that when you complete the Proposed Financial Statement the lender will see that with the new, lower loan payment you have $250-$300 left over after paying your bills.  This will assure the bank that you are not a risk for re-default and prove that you have made sustained home ownership a priority.  Its not brain surgery, if you take the time to research, learn and prepare you will have good chance of getting the do it yourself loan modification help you need and deserve.

You can get the help you need to understand the loan modification process by ordering and downloading The Complete Loan Modification Guide. This is a low cost, easy to read handbook 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. 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.

Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide.

For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com