Financial Aid
We understand that even our nominal fees can be an additional hardship during these challenging times. In an effort to continue to support our communities and provide as much help to as many folks as we can, we have set up a charitable fund to help offset some of the costs to our clients in need.
Our fund is comprised of 10% of our revenue as well as charitable donations. If you require financial aid, or you would like to contribute to the fund, please e-mail us at FinancialAid@helpUmodify.com
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).
