Loan modification and Foreclosure site

Here are the pro’s and con’s of doing loan modifications yourself:

Pro’s:

• You avoid the fees that can come with using a company or individual modification agent. These fees can reach 1-2% of the value of the loan which will easily be a few thousand dollars. You are trying to save money by doing a loan modification, not spend more of it!
• You get complete control over your situation and you have no one to “answer to”. This is a Pro if you feel that you know what you are doing for the most part.

Con’s:

• You get virtually no help with your situation! The bank will help you some in most cases, but you will normally need more than that! Believe it or not, a loan modification is a lot of work. You have to do a lot of research and spend a lot of time constructing your modification, especially if you have no one, or no company to help you.

Unless you work in the financial field or you feel very comfortable with doing a complete loan modification by yourself, I recommend hiring a company or agent to help you with your situation, you do not need anymore stress!