EMC Loan Modification Updates

Published: 05th June 2009
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In this article we review new loan modification guidelines for Countrywide, Bank of America and EMC. If you are struggling to make your payments with any of these lenders, you must read this article!



These companies are just a couple of the lenders that are letting a handfull of loan mod companies take some of the unbearable burden off of their loss mitigation departments backs. There are only a couple companies that can come up with the necessary ratios to accomplish this. Ill get into how this is done later, but is basically means that a loan mod can be approved and completed in as little as twenty four hours to seven days.



Most modification service companies are concernced about getting paid before they do anything. Even if they are good and get alot of loan modifications to go through, this is no way to do business. What if you knew what you were going to get before you paid? Wouldn't that be a better way to go? Well, that service exists and I'll tell you how it works!



One modification company (also a lender) is using their connections with Bank of America, EMC and Countrywide case managers to help homeonwers in need. They will get your loan number, call up the case manager and find out if you qualify. They will also let you know what you need to do if you do not qualify and may be able to get you into a negative equity refinance or a bad credit refinance if you are absolutely not going to qualify. Then, if you do qualify, they can let you know what your interest rate will be and what your mortgage payment will be when the loan mod is done. This can sometimes be completed in as little as 24 hours to 7 days depending on your lender. EMC is the fastest out there right now, with Bank of America being a close second.



One of the biggest (if not THE biggest) road blocks for homeowners trying to get a loan modification done themselves is getting their files into the hands of a bank negotiator. To do this, you have to first get the file approved with the lenders case manager, who will then turn around and pass it on to a negotiator. They are the ones who approve the modification. With their deep lender contacts and extensive knowledge of current lender guidelines, this company can streamline the loan modification process and put you on the fastrack to lower payments. They know exactly how to get your files in the hands of a negotiator.



Once your loan mod docs are signed, this company can often times suspend the initial payment for 30 days to further ease your financial stress during these tough economic times. They also offer payment plans for this service and accept credit cards.



If you'd like to see if you are a candidate for a Countrywide, Bank of America or EMC loan modification, all you have to do is click one of the links below and call the number. If you have called any modification services previously, you'll no doubt see that these guys are completely different...in a good way!



To see if you qualify for any of these new programs, you need to visit countrywide mortgage loan modification or instant mortgage modification

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