Homeowners seeking loan modification realize how long, complicated, and certainly this process. Loan modification protracted for months, requiring delivery of some documents, and then result in denial has become commonplace, leaving the homeowner is facing either foreclosure or bankruptcy.
Homeowners seeking loan modification realize how long, complicated, and certainly this process. Loan modification protracted for months, requiring delivery of some documents, and then result in denial has become commonplace, leaving the homeowner is facing either foreclosure or bankruptcy. The reason given by lenders for the rejection of this modification is often vague, unspecific, or pointing toward homeowners unable to qualify for modification under the guidance Hamp.

What most people do not realize is that lenders do not make their decisions based on their borrower's finances, income, or employment. In most cases, the deciding factor for whether a loan modification is approved or not is called the Test calculation of Net Present Value (NPV). This test, with a formula that is never fully revealed to the public, lenders guide telling them whether they would be best served with a foreclosure, short sale to go with, or modify the loan. In other words, if you try to get a loan modification program computerized possibility to decide whether you will keep your home or lost to foreclosure.

The great news is that you can easily obtain all the information that lenders use in their tests NPV. Using a software program called REST Reports; homeowners who worked with us now accept the assessment 11 pages that contain the same information as the NPV test before starting the loan modification process. This report takes the data property and homeowners, defining NPV, and then details the financial results of some choice modifications resulting from changes to terms on an existing mortgage compared to the cost of foreclosure or short sale.

REST report also eliminates the possibility of shock from the lender denied the loan modification because the homeowner does not qualify under the guidelines Hamp. REST determine the feasibility report in advance, which means that if you do not qualify for government programs, REST report provides additional options for loan modifications through other means. In either situation, this report gives you a detailed and verifiable information that strengthens your case for loan modification.