Download or read book Loan Modification Made Simple written by Thomas Powell and published by . This book was released on 2008-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Loan Modification Made Simple An Insider Guide to Understanding Modification and Preventing Foreclosure Section 1: The Basics * Premise of this Book/Introduction * Comparison of Modification vs. Refinance Section 2: Understanding the Concept of Loan Modification * What is a Loan Modification? * Characteristics of a Note that a Bank Can Modify * Why Would a Bank Modify a Loan? * Causes of the Modification Boom * Modifications are Negotiations: Use the Threat of Foreclosure * Foreclosure Timetable * The Banks Reaction during the Foreclosure Process Section 3: How to Modify My Loan * What are Loss Mitigation / Home Retention Departments? * The Proper Way to Deal with Your Loss Mitigation Department (extremely important!!) * Step by Step Procedure on to How to Successfully Negotiate Your Own Loan Modification * Hardship/Hardship Letter * What Banks are looking for to Grant a Loan Modification Section 4: Breaking Down Modification Companies * When a Homeowner should Contact a Modification Company * Difference between an Attorney Based Modification and a Non-Attorney Based Company * Difference between Attorney Based Modification Companies and Law Offices * Avoiding Scam Artists Section 5: California Governor Arnold Schwarzenegger's Answer to the California Housing Crisis * California's Loan Modification legislation Section 6: Finalizing and Submitting Your Modification Proposal * Putting the Loan Modification Proposal Together and Submitting * Developing a Loan Modification Proposal * Example Loan Modification Proposal * If a Principal Balance Reduction is Denied * Loan Modification Income and Expense Worksheet * Proper Loan Modification Cover Letter Section 7: Forms * Explanation of How to Properly Fill Out Forms * Loss Mitigation Fax Cover Sheet * Example Cover Letter * Loan Modification Proposal * Real Estate Cash Flow Worksheet * Dynamic Expense Worksheet * Dynamic Income Worksheet with Disposable Income Calculation * Example Hardship Letter * Example List of Hardships Section 8: Pertinent Modification Terms * Glossary