San Diego, CA (PRWEB) March 28, 2013
LoanSafeMods.com is a licensee of the REST Report, a trusted third party analytics tool that can help investors and homeowners to determine what the best course of action would be when a property is in danger of foreclosing. This Report takes data from all available government and proprietary loan workout programs, such as the HAMP modifications, and runs it against the information on the loan provided by the home or property owner.
Often, when a homeowner seeks a modification to their mortgage, the process can be quite a hassle. Large institutions frequently lose documents that were sent to them by the applicants or are unable to sort through the paperwork in a timely manner. This results in delayed approval of the modifications or in some cases denial of the request when the modification actually should have been approved.
This is where the REST Report can help. The REST serves to organize all the information in a way that makes it clear if it would be more beneficial to the investor to grant the modification than to foreclose the property. In case there was an unfair denial of a modification, the REST also serves as solid evidence of the legitimacy of the request that can be used as proof in a court of law.
The REST is so accurate that it can actually significantly speed up application processing times, since most financial institutions accept the results of a REST Report without question. A new video on LoanSafeMods.com shows how the results from the REST Report compare to the actual mortgage modification terms approved by investors.
This REST video review shows a number of REST results compared to the actual terms approved by large financial institutes such as Fannie Mae and Bank of America. In almost all cases, the estimated reduction in monthly payments is only a few cents away from the actual amount approved by the bank or lending institute.
The first example shows a loan where the previous monthly Principle, Interest, Taxes, Insurance and Association dues were $3,032.88. The proposed payment calculated by the REST system was about $1,885.67 after the modification.
The new payment amount approved by the bank after the modification was put into place was $1,855.88; that is only a difference of 21 cents. This just shows how accurate results from the REST truly are.
The video goes on to show a number of examples, including some jumbo modifications, each of which had the final approved terms very closely matched with what the REST results had predicted. In every case the REST was able to accurately show what the homeowner or property owner qualified in terms of foreclosure alternatives, as well as assist in the application process by organizing the information in a way that made it easy for the bank or lending institution to make a decision on the application.
For more video reviews and to find out more about what the REST can do to benefit homeowners who are struggling with their mortgage payments or faced with foreclosure, please visit, LoanSafeMods.com.