Loan modification and Foreclosure site

There has been a lot of chatter recently in the financial field by people wondering what the “average loan modification” consisted of.

The average loan modification includes:

• Between 40-60 phone calls related to your loan alone!
• Roughly 60 e-mails related to your situation to your lender and whatever advisor you are working with.
• A 90-120 day waiting period from the start to the finish of your modification.

I’m not trying to scare anyone interested in a modification, I just don’t want anyone to think that this is an easy process by any means. People look at a loan modification and see “I can keep my home and lower my mortgage payments at the same time!” This may be true depending on your situation, but it does not come without a cost.