The first thing that they will do is qualify you for a loan modification.

I understand it very similar to a loan modification or a forbearance, but the deficiency is forgiven.

Just as bank modifications to "struggling" homeowners which come with $500 processing fees make no sense so does your website "ask."

The lender wants to see an ability to live up to the new terms before making modification agreements.If someone got 6 months behind, the lender will want to know what has changed that will enable the borrower to satisfy the new agreement.

Missed payments are on the rise not on the decline (and every mush mouth loan modification the lenders do which creates lower payments and negative amortization instead of real debt relief sets up another time bomb.Where does this lead?

Specifically it's an updated approach to a loan modification where instead of the bank having the upper hand, you have the upper hand due to the bank's errors.

If I had loan modification last year, will they base their computations on the modified loan or the original loan if I apply for another loan modification today?

For example, Ocwen is currently leading the charge in principal reduction loan modifications.

Then, if they find information that they think justifies a modification or even a lawsuit, then I believe they will encourage you to pay a fee to have your loan modified.

I see loan modification still modifying 11% rates down to 8.5%, like that's a lot of help.