You Have the Right to Remain Broke – Reading Your Housing ‘Miranda’ Rights

“You have the right to remain broke.  If you stop making your mortgage payment anything you say can and will be used against you by your lender to make you feel guilty, irresponsible, immoral, shameful and stupid.  You have the right to an attorney that may charge you outrageous fees to negotiate a loan modification [...]

Loan Modification Should Include a Principal Balance Reduction

Dale Carnegie once said that “the only way to get the best of an argument is to avoid it.”  This is easier said than done if you’re currently attempting to get a loan modification from your bank.  Whether you are going it alone or paying for a loan modification no doubt you will experience some [...]

Why the Mainstream Media Hates Loan Modification Companies

‘Your lenders are prepared to negotiate’, a column today in the Arizona Republic penned by Rick DeBruhl, a consumer reporter for 12 News, the NBC affiliate in Phoenix, advises you to “Avoid loan-modification companies. While there might be a few good ones, I hear from too many people who have lost money with no result. [...]

When to Pay for a Loan Modification

The experts say you shouldn’t pay for a loan modification because you can do it yourself.  That got me thinking about all of the things that I can do myself.  I can change the oil in my car, do my own taxes and buy or sell my own house.  But, I chose not to because [...]

The Loan Modification Mess

Everyone seems to have an opinion about loan modification.  If you ask a politician, government official, or member of the media most of them will tell you that obtaining a loan modification from your lender is as easy as picking up the phone.  In the very next breath they will tell you that all loan [...]