According to the press, the Hamp Loan Modification program by the Federal Government is a failure, even though BILLIONS of dollars have been put aside to help homeowners modify their home loans and avoid foreclosure. So what’s the problem?
What is the problem with the Hamp Loan Modification Program?
Answer: Many people don’t know how to deal with banks. they will often tell me that it seems like their bank has a shredder at the end of their fax machines!
especially homeowners who are self-employed!
is this you? if you are a SELF-EMPLOYED homeowner and have a challenge proving your income to a bank, to do a loan modification, or lower your monthly payments via the “obama underwater refinance” coming up soon, don’t feel bad.
After all, A mortgage lender (who is probably no longer in the banking business) probably helped you to qualify for your home.
so if you need help dealing with your bank, you should read my 72 page eBook that you can download immediately to help you get your loan modified or refinance approved.
Don’t think you can modify your home loan because you owe more than your home is worth?
Try again. Do this before you decide to do a short sale or “deed in lieu” as there are certain advantages for doing so.
You see, most homeowners do little if any research for a Hamp Loan Modification. They simply start by visiting the Government’s website. And then follow the directions on how to get a Home Affordable Loan Modification (Hamp) and then wait for several months only to hear later from their lender that their Hamp Loan Modification was NOT approved because they failed to show enough income.
WAIT, RUN THAT ONE BY ME AGAIN. THE HOMEOWNER FOLLOWS DIRECTIONS BUT DOESN’T GET APPROVED? YEP! SIMPLY BECAUSE THE HOMEOWNER DIDN’T KNOW WHAT THE LENDER WAS LOOKING FOR IN THE FIRST PLACE!
A MAN NAMED MARTIN, FOR EXAMPLE, SENT HIS MOST RECENT TAX RETURNS AND PAYSTUBS AS REQUESTED. BUT MARTIN DIDN’T REALIZE THAT HIS TAX ACCOUNTANT HAD REDUCED HIS INCOME IN ORDER TO HELP HIM PAY LESS TAXES.
BUT MARTIN’S BROTHER WOULD HAVE HELPED HIM SAVE HIS HOUSE — IF ONLY MARTIN HAD KNOWN FROM THE BEGINNING WHAT THE LENDER WAS REALLY LOOKING FOR.
Note: if a woman wanted to bake a cake, and didn’t know how to make a delicious one, mightn’t she follow a recipe?
Or if a man wanted to build a house, and didn’t know how to do so, wouldn’t he follow a blueprint? Sure.
That’s where I enter the picture. My wife and I have helped many people deal with banks in order to help homeowners modify their existing loans. And my 72 page eBook acts like a winning blueprint or a successful receipe of what to do – AND what NOT to do!
HAMP LOAN MODIFICATION QUESTION
So who died and make me king? My name is Bob Boog and I am an author and real estate broker. I have worked full-time in real estate since 1978. I did my own Hamp Loan Modification and have helped several other families successfully complete theirs too. I wrote a 72 page book to help you with your Hamp Loan Modification because I was getting too many calls and emails on how to handle certain situations. I realize that times are tough so I have priced it low enough to make it affordable. It’s also available on Amazon in a bound edition for $14.95. Just do a search on Amazon.com for Bob Boog and you will find it.
See, I believe the Hamp website has some great resources. but just imagine if you entered a “most beautiful rose” flower contest. The winner of the most beautiful roses gets to keep a trophy.
If winning this contest was important to you and your family, well, you might buy MORE than ONE on planting roses, mightn’t you? You might buy two or three of them. Well, what about keeping your family safe and secure? That’s a pretty important trophy too, isn’t it?
What many homeowners fail to realize is that the Federal government is NOT doing the Hamp loan modification!
Instead, it is your LENDER who will be modifying your loan! And though your lender may receive an incentive from the US government to modify your loan, they get THOUSANDS of requests EVERY HOUR to do so.
As a result of being flooded with requests, when you send your request to do a Hamp Loan Modification to your lender, do you think your lender cares if your loan gets modified or not? The truth is, some bank people might even look for reasons why they should TRASH your file. They might say, “I’m overwhelmed with work. How can I lessen my workload? Let’s see, this person failed to check this box, I think I’ll toss this application.”
Don’t believe me? The government has STOPPED paying incentives to Bank of America and Wells Fargo because of their failure to help distressed homeowners!
If you make a tiny, stupid mistake – like failing to put down your zipcode, for example, your application will be rejected “for failing to have a complete address.”
What’s worse, you might not know about until you have made trial payments for several months! Scary, isn’t it?
So let’s talk about some of the biggest challenges for most people when doing a Hamp Loan Modification:
Self-employed people – you’ll need to submit a current Profit and Loss statement with your application to document your income. Guess what? One is provided FREE with the book.
Non-self-employed people - often have questions about the budget. So I included a sample budget in my book.
In Mortgage Modifications Made Easy, (also called the Hamp Loan Program Helper) real estate broker Bob Boog shows you the HAMP ropes! You can use this information to do your own Hamp loan modification, or help a *friend do theirs.
(*But if you are looking to make extra money while doing this,please follow the local laws where you live as a real estate license may be required to do so.)
Please note: I cannot guarantee with 100% certainty that you will be successful with every single Hamp loan modification that you’ll submit for approval. Nobody can, because each loan modification is different. But for the cost of a high school play, I can show you how to improve your odds for getting your Hamp loan modification approved –and possibly save you hundreds or even thousands of dollars over the life of the loan! Would that be of interest to you?
I want to help you to do a successful Hamp Loan Modification.
And unlike other “guru’s” who will tell you NOT to visit the government’s Hamp Loan Modification website – I say, “Why not go there?”
I say, “No problem. So if you keep scrolling below you will find the government’s website.
TIP: If you do a Google search for the Making Homes Affordable website, my first tip is to make sure that the ending is “gov” and NOT “com”. This tricks ALOT of people who end up paying for a credit report that they really don’t need on a website that masquerades as the Hamp Loan Modification website. So don’t fall for the “credit report” trick. Paying even $35 for a credit report is not required to getting a Hamp Loan Modification nor is having a lawyer file the papers for you. Scroll down for the link, but check out the Google search image below. The CORRECT website shows up in FIFTH place on this search (see arrow) so the first four websites would take you to places OTHER than the government’s Hamp Loan Modification website!
After clicking on the right link, you will then be directed to a landing page that looks something like this. [See below] Make sure that the header says, “Making Homes Affordable.gov”. Here is where you want to see if you qualify for the Hamp Loan Modification Program. Look for the “elegibility” links and toll free telephone number like the image below.
Notice that there are a few links that say “eligibility” and you will want to click on one of them. Or you can also call the Hope Hotline at 1-888-995-HOPE and speak to a live person.
Next, you will fill out a brief questionairre. You will need to enter your loan number, so be sure to have it handy. Why do you enter your loan number? Answer: to see if your loan is insured by either “Fannie Mae” or “Freddie Mac”. If so, great! Most likely you will qualify and the Hamp Loan Modification Program should work out fine for you!
Here is the link to get to the Hamp Loan Modification website. Just click this link and it will take you to the Making Homes Affordable website also called HAMP: www.makinghomesaffordable.gov
Okay, but what happens if for some reason your loan number shows that your home is NOT insured by either Fannie Mae or Freddie Mac. What then? If this is you, don’t despair.
Or what if you maybe exaggerated income on your loan application to purchase your home? Or what if you are short on income? What then? Answer: You will probably want to read my 72 page, ebook that you can download immediately to help you get your loan modified. Please note: I cannot guarantee that my book will help 100% of homeowners modify their home loans. NOBODY can guarantee that! All I am attempting to do, is to help you INCREASE YOUR ODDS for getting your Hamp Loan Modification successfully completed. Here is the buy button again. I purposely kept the price low so that most homeowners would be able to afford it – even if they were paying somebody else to do their modification for them. You want to also be informed just in case that “somebody” skips town.
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