Loan Modifications?!?! I couldn’t even tell you what they were a few months ago.
My name is Jody Boyd. I lost my job a while back, like a lot of people I know. As a single Mom, it was really hard to make ends meet and getting harder every month. I looked at my bills and ways to cut costs but there always seemed to be more bills than money at the end of the month.
So, I began to look at my expenses from highest to lowest. My mortgage was my biggest monthly expense, as I’m sure it is for just about everyone. But I signed the mortgage papers and I agreed to pay the bank a certain amount every month, right? How can you change that?
Well, I thought about my daughter and about losing our house. I spend a lot of sleepless nights thinking about money. Then after some searching, I discovered there IS a way to get the bank to reduce the cost of your mortgage payment. They call it, “Loan Modification” or sometimes “Loan Mod”. I call it the blessing that saved our home.
It took some digging to find out about Loan Modifications. Banks would really like to just have you keep paying the same about every month, so they don’t make it easy. I got some help with my loan modification from the great people at LoanModificationYes.com. They have a really simple form on their web site to get started.
I also put lots of Loan Modification information on my blog to help other people too, so you don’t have to start from scratch like I did. Please look around and find out as much as you can. Don’t wait for the bank to have to foreclose, because you have other options available to you that you might not know about.
Good luck and have faith that things will get better. We still have our house and I am so thankful for that.