Before you contact your lender or bank, you need to be prepared and have your ducks in a row. One wrong statement or incomplete package can cost you valuable time or mean you won't get the most favorable terms, or even disqualify you from a life changing loan modification
Costa Mesa, CA (PRWEB) March 3, 2009
America 1st Support Services, http://www.american1stsupportservices.com, a group of successful mortgage and banking experts, has launched a low-cost Loan Modification Kit to help homeowners modify their current home mortgages. Amit Oberoi, President and CEO of America 1st Support Services, says with the passage of the President Obama's new Homeowner Relief Stimulus Program, the outlook is brighter for homeowners who are currently behind or struggling to make their mortgage payments, but there are still pitfalls that homeowners need to be aware of. “Before you contact your lender or bank, you need to be prepared and have your ducks in a row. One wrong statement or incomplete package can cost you valuable time or mean you won't get the most favorable terms, or even disqualify you from a life changing loan modification,” says Oberoi.
H. Eugene Fouchia, Vice President at America 1st Support Services says the Homeowner Relief Program appears to be heading in the right direction by subsidizing banks so they can modify existing loans. "This will create cash flow for banks so they can avoid costly foreclosures," says Fouchia. He adds, the program also includes revised lower financing options for a lot of other homeowners who have sacrificed to remain current on their mortgages.
“This is great news; however, homeowners need to be careful not to listen to every piece of advice out there. Homeowners shouldn’t just call their lender right away to apply for a modification," says Oberoi. Another option many struggling homeowners choose, says Oberoi, is to hire an attorney or modification company to do the paperwork and deal with the bank for them. But, says Oberoi, there are some hefty fees associated with this service in the range of $2000-$4000.
What both Oberoi and Fouchia recommend is, before homeowners spend $2000, $3000 or $4000 for a high priced attorney or modification company, or worse, call the bank unprepared and risk getting disqualified for a one-shot, life changing loan modification, they should get an inexpensive Loan Modification Preparation Kit, available at America 1st Support Services, http://www.american1stsupportservices.com.
About America 1st Support Services
American 1st Support Services Inc. is a group of successful mortgage and banking experts with over 50 years combined experience in the mortgage and banking professions. After observing recent predatory lending practices, America 1st Support Services decided to fight back on behalf of struggling homeowners by giving them all the tools in one affordable kit so they can do a complete loan modification on their own, without having to spend thousands of dollars. For information, call 800-762-1867 or visit http://www.american1stsupportservices.com.