jueves, 20 de octubre de 2016

Countrywide Loan Modification - Simplified For You

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Most of the people feel that it is impossible to get eligibility for a Countrywide loan modification, but this is not true. In fact after Countrywide merged with   Bank   of  America , they have opened doors for every borrower to qualify for the loan modification process. The borrowers have to fulfill some of the requirements fixed by the  bank . This process is now simplified due to Obama"s loan modification plan. Before just jumping into applying for the loan modification program, you must be sure that you meet all the demands of the  bank . First gather complete information regarding the requirements, and then weigh your documents to fit in their criteria.

If you don"t know how to proceed, give a call to the loss mitigation department. They will give you the list of requirements, and the program that fits in your present situation. Then you will have to decide whether or not you can handle the repayment option that will be fixed after the modification process. It is important for you to be careful and conscious while filling in the information on the application and gathering the supporting documents.

After doing all this, you can apply for a Countrywide loan modification. You can apply directly, through a specialist, or via an attorney. You have full rights to negotiate with the  bank  before the final approval, and you must not miss it. This might decrease your repayment amount further. The fact is that the majority of people who do not take the help of specialist do not succeed in getting their loan modified. So, it is advisable that borrowers take the help of the attorney or a legal advisor to enhance the chances of approval of their loan modification application.

After submitting the application form, documents, and hardship letter, the borrower will get a call from the lender or  bank  to verify the authenticity of his statements. You must answer accurately tallying with the details you have filled in the application form. Keep a copy of each document along with the application form and the hardship letter. When asked, you can give exact information and this will maximize your chance of getting the home mortgage loan modified.



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Source by Trevor Fike


















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