You don’t have time to waste when foreclosure is looming on the horizon. Although home loan modification does tend to slow down the process, there won’t be too many options left if you wait too long. However, not all banks and lending institutions have the experience or the manpower to handle loan modifications, and even if you hire a capable lawyer, the entire process can take several months to complete. But the good news is that there are a number of things you can do once the process starts to save time and get it over as quickly as possible.
The first thing to do is to document everything. It isn’t exactly unknown for lenders to misplace your loan modification process. Delays can be prevented if you record all your efforts and keep it on file. Make sure you keep track of all the calls that you receive from or make to the lender and lawyer. Keep all the receipts of your transactions and have several copies so in case the originals are lost or misplaced. Prepare a financial statement for yourself. Every mortgage modification has its own financial worksheet, which is the main basis for your qualification. Lending institutions will have their own, but preparing one for yourself can be very useful too. This way you will have all relevant information at your fingertips.
Try to include as many details as possible. It is better to provide too much information so that you don’t have to waste time in case the lender asks for further details. A typical loan modification worksheet usually includes the following information: the borrower’s contact information, the estimated cost and other information about the borrower’s property, the current income, and additional income, if any, of the borrower, the estimated value of all the assets owned by the borrower, current liabilities like loans, medical expenses, etc.
Try to be as open and honest as possible and be sure to provide verifiable information regarding your financial circumstances. This will help in improving your chances for qualifying for loan modification.
UnitedLayer CEO to moderate panel discussion on The Future of Cloud Computing at The Commonwealth Club in San Francisco with technology experts Timothy Chou, Simon Crosby, and Gina Tomlinson.
To help you understand the past, present and more importantly the FUTURE of Cloud Computing, UnitedLayer CEO, Abhijit Phanse, is moderating a panel of industry luminaries Timothy Chou (Pioneer in Software on Demand; Author; Former CEO, Oracle On-Demand), Simon Crosby (Founder & CTO, Bromium; Former CTO, Citrix Systems), and Gina Tomlinson (CTO, City and County of San Francisco, Department of Technology) at The Commonwealth Club of California on July 19th 2011.
The panel of tech insiders explores the various forms of cloud computing, the economics of the cloud, and the key technology of virtualization, which enables the abstraction of resources into massive pools that can be tapped on demand. Come explore the challenges of security, privacy, accessibility and the opportunities for efficient resource utilization toward a greener planet. Will the cloud be an on-demand instant gratification engine, the ultimate equalizer bringing the power of the infinite into the hands of a single person, or just the ubiquitous computing model of our increasingly digital life? Will it rain? Will cloud computing become fully adopted as part of everyday computing?
UnitedLayer is offering free passes to this prestigious event on an as available basis. This event will be a valuable learning opportunity for anyone interested in exploring the IT cloud space in near future
Click here for Free Passes..