Loan Modifications |
If you are having any trouble now or expect that you could have trouble in the future, you owe it to yourself to consider and work towards a loan modification. Some thoughts and items that could be worth discussing as you look into whether or not a loan modification would be in your best interest are as follows:
1. Is the agency you are considering to assist you in the loan modification process an agency that is HUD approved?
2. Is the agency you want to work with to help you with your loan modification going to charge you any fees, upfront or otherwise?
3. Is the person or agency who has offered to help you with your loan modification knowlegeable and competent in completing loan modifications?
One organization we have referred people to is NID Housing Counseling Agency. They are HUD Approved, Federally Funded and Well Trained to assist people who want to stay in their homes. There are many branch offices of the NID throughout the country. The Las Vegas office can be reached at 702-228-1975 or via email by Clicking Here.
Their process is simple:
1. Contact the office of NID Housing Counseling Agency.
2. Complete the intake package and compile information as requested.
3. Attend an NID Monthly workshop
4. Obtain "One on One" Counseling and Support
For clients who follow their very specific instructions, NID Housing Counseling Agency has a very high rate of success. For those people who do not qualify for or desire a modification of their loan, there are three other options: Short Sale the property, Foreclosure or Deed in Leiu of Foreclosure.