How to Do Loan Modification by Yourself

Step-by-Step Guide

1. 1

   Step 1: Write a Successful Hardship Letter.

   The first step for getting approved for the loan modification program is Hardship Letter.
   
   A Hardship letter is the letter which shows some kind of hardship in it which has cause your income loss and that's why you are unable to pay your monthly mortgage payments.
   
   Such as Divorce, Job loss, Business loss, Medical illness, Death or anything else.
2. 2

   Step 2: Write down a brief 3-4 page of hardship letter showing that which kind of hardship you are actually suffering from which has led your income loss.

   Submit it to your lender and wait for the response from your lender. , Simply download some good loan mod workbook from the internet and follow it's step by step instructions to prepare all the required documents.
   
   Now, submit your paperwork to your lender. , Wait for the response from your lender.
   
   Be Patience. ,, And wait.
   
   Your lender will ease your loan terms more and give you the second offer. , You are Done.Doing Loan Modification by yourself is this much easy.
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   Step 3: Once your lender approves your hardship letter

4. 4

   Step 4: it's time to prepare all the documents required for the loan modification process.

5. 5

   Step 5: Wait for a few months and pay your monthly mortgage payments regularly by that time.

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   Step 6: Once your lender will approve you for the loan modification program

7. 7

   Step 7: he will give you the first offer which will be most probably the mild deduction in the interest rate.

8. 8

   Step 8: Be bold and reject the first offer your lender offers you.

9. 9

   Step 9: Accept the second offer that your lender offers you.

Detailed Guide

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