IndyMac Federal Bank will start a new program to systematically modify bad mortgages with a loan modification.

What Loans Are Eligible For Mortgage Modification With IndyMac?

The streamline loan mods will be available for borrowers who have a first mortgage that is owned or serviced by IndyMac that are seriously in default and are facing foreclosure.  IndyMac will work with owners show are unable to make their mortgage payment because of a reset or change due to an arm mortgage reseting. Continue Reading »

I saw a law firm call Phillips and Associates advertising loan modification services.  Do you need to hire a law firm like Phillips & Associates to do a loan modification or can you do it yourself?  The truth is that you do can do a loan modification yourself and save yourself a retainer fee.  I would hire an attorney or someone else to handle your mortgage loan modification only if you are paralyzed by fear and know that you would be taking ineffective actions in getting it done.

Do I Need Loan Modification Services? Continue Reading »

Who do you call if you are behind on your mortgage and need to modify your existing mortgage?  If you are behind on your mortgage and are facing foreclosure you should call your existing mortgage company at once.  Look for the number on your most recent statement.  Here is a list of the larger banks and the phone numbers of their loan modification departments.

GMAC Mortgage 800-799-9750

Wells Fargo  800-678-7986

Citigroup, Citibank and Wachovia  866-272-4749

JP Morgan Chase, Chase, Wamu, Washington Mutual  866-550-5705

Countrywide  800-669-0102

M&I  877-473-4333 or 877-849-6160

If you are behind or know that you are going to get behind on your mortgage, don’t wait until it is too late.  The sooner you start the more likely you will end up with a favorable result.  Save your home from foreclosure and make the call today.  You home is worth saving and loan modifications do work.  You do not need to pay someone to do a loan modification, you can do it yourself.  Use this information to save your home.