What would be the first step to modify your mortgage with Bank of America?  I just spoke with a client who originally got an option arm with Countrywide.  Countrywide was purchase by Bank of America.  If you originally had a Countrywide mortgage you will need to speak with someone at Bank of America now for a loan modification.

Call Customer Service First To Try And Get A Loan Modification

If you are trying to get your mortgage modified, your first call should be to your lender.  Most lenders have loan work or loss mitigation departments to deal with the pre foreclosure homes.  You will most likely need to provide information on your financial wherewithal.  If you do not have any income, you will probably not be able to get your loan modified.  You have to be abel to demonstrate that you will be even able to handle the new payment that can be worked out for you.  You may have to give your lender your tax returns, pay stubs and financial statements to be even considered for a loan modificaiton.

Should I Hire A Loan Modification Attorney?

I have seen law firms starting to advertising for loan modifications.  The truth is that you can probably do a loan mod yourself without an attorney.  If you feel more comfortable using an attorney to handle the modification , I would not try to talk you out of it.  You have nothing to loose to try and do it yourself first however.

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.