Mortgage Loan Modification Help – In DVD Format

Homeowners seeking a loan modification must learn to help themselves, or they will fall by the wayside. Fortunately, a new educational DVD from a trusted name in personal finance explains how to do it.

“While 15 percent of eligible homeowners have been offered help through the mortgage modification program, the low rate of actual mortgage reductions has frustrated administration officials.” -Andrea Fuller, New York Times

Are you one of the millions of Americans seeking a mortgage loan modification to lower your payments? If so, you’ll be interested to hear about a new DVD kit that offers loan modification help and support. And it comes from the consumer education experts at Credit.com, one of the most trusted names in personal finance.

Let me make it clear that we don’t endorse or recommend a lot of mortgage mod products on this blog. The reason, of course, is that there are so many scams out there. But I have personally worked with some of the folks from Credit.com (the creators of this new product), so I’m happy to recommend their DVD kit for anyone seeking mortgage modification help and guidance. And now for a little background information.

Use the link provided above to learn more about this information kit. See what you think. It’s certainly worth your time to consider their point, at the very least.

What is a Mortgage Modification Anyway?

In reality, home loan modifications have been around for quite some time. But they never got a lot of press coverage — until now. These days, you hear about them all the time. Our housing and mortgage crisis has left millions of Americans in a bad spot. Their home values have dropped, and many now owe more on their mortgages than the home is worth. This is one of the areas where mortgage modification can provide help for homeowners.

Here’s how it usually works.

The homeowner and the mortgage lender agree on a plan that will modify the home loan in some way, thus making it more affordable for the home owner. The end goal, of course, is to avoid a default and foreclosure type of situation. Nobody wants that. The best type of loan modification is one that helps the homeowner switch from an ARM loan to a fixed-rate mortgage. This accomplishes two goals — it lowers the monthly payments, and it offers the long-term stability of a fixed interest rate.

“The Department of the Treasury expressed dissatisfaction yesterday with the number of trial loan modification initiated through July 31…” -Sue Asci, Investment News

Perhaps you have noticed a running theme throughout this article, with my use of journalistic quotes. Yes, it’s true. The government-sponsored mortgage mod program is not working like it’s supposed to. We gave enormous sums of money to the financial sector to “motivate” them toward loan modifications, but there were really no strings attached at all. So the banks used the money as they saw fit — mainly to shore up their own financial houses.

So don’t expect all of this to trickle down in the form of mortgage modification help for homeowners. If you want somebody to hear your case and help with your situation, you have to make some noise.

New DVD Offers Loan Modification Help

When I first heard about this new DVD being offered through Credit.com, I was only mildly interested. There have already been books and DVDs on the market offering loan modification help to homeowners. But from what I’ve learned since then, this product seems to take things one step further.

It’s actually a kit that comes with the DVD itself (of course), various forms needed to initiate a loan mod, customer support and other resources to help you move forward. This goes above and beyond most other products that offer loan modification help for homeowners, at least in my opinion.

I am not in the market for a mortgage mod. But if I were, I would order this kit without delay. Because one thing is for certain — you cannot rely on anybody else for help, least of all the government. Check out the quote below that reinforces my point.

“The Obama Administration … rolled out $50 billion in incentives to prod lenders to help modify the mortgage of as many as four million distressed homeowners. So far, only a meager nine percent have been signed up for a three month trial modification program.” -Scott Van Voorhis, Boston Globe

When it comes to getting loan modification help, there are essentially two types of homeowners. There are those who will set around, waiting for the government to swoop in a help them. And then there are those who will learn to advocate for themselves. Which group do you think has a better chance of securing a mortgage mod? Or in other words, which wheel is going to get the grease — the squeaky wheel, or the silent one?

Get Help From the Experts

The bottom line here is that mortgage modification help is actually hard to come by. The program is not working like it was supposed to (see journalist quotes sprinkled through this article). So as a homeowner, you must learn to help yourself in this arena. You must put forth a conscious effort to (A) learn how the process works and (B) make it work for you.

The new DVD kit on loan mods is a great place to start. I’m not saying it’s a magic wand or anything. In truth, nobody can guarantee that you’ll qualify for a modification of your mortgage. But when you research the process and take a proactive stance in pursuing it, your chances for success go up astronomically.

Lately, the federal government has been increasing pressure on lenders to make more loan mods. But since so much money was given to them without any strings (or oversight) attached, this kind of pressure probably won’t change much.

With that being said, thousands of homeowners have succeeded in having their loans restructured. But they where the kinds of folks who took proactive steps forward. They didn’t sit back and wait for modification help to find them — they went out and found it. That is what I’m recommending you do, as well. You have nothing to lose but a bit of your time, and plenty of potential gain.

I’ve said what I had to say. You have to help yourself. Good luck!