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MHA
Making Home Affordable is the new government program announced in March 2009.  The new Government Website is listed HERE and has do-it-yourself resources for determining your eligibility of either the Refinance program or Loan Modification program.  Find out where you stand before contacting your lender or helpUmodify.org


Welcome to helpUmodify

Workout Solutions can take on several forms. They can be as basic as a repayment arrangement and as robust as a complete Promissory Note modification (loan modification). There are also workout programs such as Short Sale agreements, Forbearance agreements, Deed in Lieu agreements, and various Stipulation agreements.

These workouts have received significant press since the credit crisis began in August 2007. As a result, an entire industry of “Loan Modification Companies” has emerged in hopes to earn your business and negotiate a solution for you. Many of these services “over” promise results with thousands of dollars in up front fees.

helpUmodify.org is comprised of a small group of homeownership advocates with the mission to educate and empower homeowners who seek workout assistance. As you navigate through our site you will take note of several consumer advocacy themes including: a focus on Education, Do-it-Yourself help, and Buyer Beware when hiring a negotiator.

helpUmodify.org is a Consumer Advocate project of PorchLight Real Estate Services located in Orange, CA. We began this initiative in efforts to do our part to help people during these difficult times. What we value most is helping homeowners in trouble find a solution or resolve to their homeownership challenges. Our basic philosophy is that you should do as much to help yourself as you can on your own, seek education and assistance as you need it, and hire a professional when required.


Homeowners who need workout assistance utilize our services in one or more of the following ways:

1) Educate themselves on workout solutions and gain valuable information before contacting their lender and attempting a Do-It-Yourself workout solution.

2) Educate themselves on what to look for and what to look out for when hiring a third party company to negotiate their workout solution. Start Here

3) Hire helpUmodify.org under our unique progress payment fee schedule to initiate, or broker and negotiate, a workout solution with their lender. Start Here

4) Hire helpUmodify.org to broker the sale and negotiate the short sale of their home if they want out or are no longer able to afford the home.



Warning

HOMEOWNER ALERT!  If you are currently seeking a Loan Modification or Workout Assistance on your mortgage, DO NOT pay up front fees for third party services.  Most of our clients have come to us after having paid large upfront fess to other companies who did not complete the work as promised.  This includes a new wave of “Law Firms” who are rushing in to fill the subprime void by promising workout results with BIG upfront retainers. When you retain an attorney, do so with “The Attorney” who will do the work and not a salesperson or legal assistant.  There are some great firms out there, but please be careful of who you retain.

Loan Modification Scams in the News:








Do-it-Yourself TIP #1

Before contacting your lender to discuss your situation, be prepared to provide them with your family budget.  This includes all of you income and expense in your household.  Your lender will ask you for this information as a means of qualifying you for one of their standard workout solutions.  Be as accurate as you can as overestimating your income or your expenses may cost you an approval.


Do-it-Yourself TIP #2

When communicating with your lender, clearly express your desire and intentions to keep the home.  Do not threaten to walk away from the home.  Lenders want to work with homeowners who truly desire to stay in their homes and are willing to work through their challenges.


Do-it-Yourself TIP #3

While exploring workout solutions with your lender, keep up on your payments as best you can.  Contrary to what you are hearing out there, purposefully withholding mortgage payments as a means of negotiating is bad advice and can cost you the ability to obtain a better mortgage as conditions in the mortgage market improve and other workout solutions become available.


Do-it-Yourself TIP #4

Prepare yourself for a long drawn out fight with your lender, perhaps the fight of your life.  You can expect the process to take upwards of 120 days and possibly having to start over once or twice to achieve the desired results.  Make your workout solution a part time job and dedicate 2 to 3 hours a week doing research and contacting your lender(s).