How to Modify Mortgage Loan Modification Yourself

Aug. 12, 2009 - PRLog -- By Doomone

You can do your own loan modification without paying a high fee to outside companies and lawyers. If you are having trouble paying your mortgage, have an adjustable rate or your value is upside down, it is possible to renegotiate your loan terms.

Things You'll Need:
- two recent pay stubs
- two recent bank statements
- hardship letter
- financial budget
- recent comparable sales within a one mile radius

There are 6 easy steps with detailed explanation at my blog, but here I've listed them for you before you read the details at ===> http://how-to-modify-mortgage-loan.blogspot.com/

Step 1 - First write down your monthly budget before you contact the mortgage company.
Step 2 - You have to have a hardship.
Step 3 - Contact your mortgage company.
Step 4 - Depending on your situation, you will either be requesting;
A) payment deferment.
B) modification of interest rate.
C) principal balance to be lowered to the present market value.
D) combining your first and second loan
Step 5 - Very important to follow up constantly and consistently!
Step 6 - If you do not have an income due to lay off, illness or other, you may not qualify.

If you'd like to read the detailed guide, visit my blog at
====> http://how-to-modify-mortgage-loan.blogspot.com/