Women In Black
There is a statistic that is very concerning. It does not receive that much attention. However, it is one reason so many foreclosures are finalized. A study revealed that 80% of all people who were facing foreclosure never made any attempt to try to negotiate a loan modification with their mortgage company.
If the people in danger of losing their homes did not do anything to get a loan modification, how could they expect to stop the foreclosure process and save their homes? This statistic implies that 80% of the people feel that foreclosure is inevitable. They are going to lose their home. There is no action they can take to reverse the process and save their home.
Also, banks would rather have you stay in your home even if they’re not making the full amount they signed up for rather than have the house go to foreclosure. They stand to lose more if you foreclosure than if your loan is modified.
That is why I have developed “3 Easy Steps to do a Modification Mortgage Loan Plan.”
