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Free Home Loan Modification Help For Homeowners

by phillenbrand on July 10, 2009

A warm welcome to BlownMortgage.com!

We are among the most  trusted free home loan modification, debt relief and independent mortgage industry commentary sources online. We have fiercely and successfully been helping fellow homeowners facing economic hardship or foreclosure since 2006.

We are honoured to have been named to be among the Top 3 influential Mortgage Blogs in the industry (by Inman News).

Our US editorial team consists of high profile writers and industry insiders such as Morgan Brown, Jay Hammond, Constantine Von Hoffman and many others. Our frequent stream of unique articles often blows the lid of various Mortgage related topics and our articles are often featured on various authority sources. At the bottom of this page you will always find our 9 latest published articles.

We invite you to take advantage of years of our collective efforts and we look forward to keeping you updated ahead so that you may achieve a lower level of stress and a higher level of financial freedom.

What is a Home Loan Modification?

Mortgage modification is where your current mortgage lender agrees to change the terms of your current home loan so that you may afford to service the monthly payments and avoid foreclosure.  Generally the mortage provider will lower the interest rate and change the length of your repayment.

One of the most frequent questions we encounter is from people wanting to know how they can modify their mortgage with a loan modification from their current home loan provider. These folks are usually in adjustable rate mortgages that have exploded, leading to monstrous mortgage payments that have gone delinquent. The process of loan modification is not easy but worthwhile!  It takes some gumption, resolve and a bit of salesmanship to get the job done. But if you get your loan mod done you’ll usually receive a new fixed loan at a competitive rate.

 Our Free Home Loan Modification Tools

A Word of Caution when Modifying Your Mortgage

Be very careful if you choose to use a loan modification company that takes a fee up front to negotiate your loan modification for you. They cannot guarantee a successful modification and can end up costing you another month’s mortgage payment in exchange for false hope. The best of these companies have done the modification countless times and will actually try to help you in earnest without guarantee. The worst are scams that take your money with a cursory attempt to help you (if any).

Do It Yourself Loan Modification – A DYI Guide

We are big fans of Do it Your Self  Home Loan Modifications. Read our full article on loan modifications on your own

Read our latest published articles below

Last 3 posts by phillenbrand

Related posts:

  1. What Is A Home Loan Modification
  2. Loan Modification Scams And Desperate Homeowners an Explosive Cocktail.
  3. Disappointed Homeowners Torture Loan Modification Agents
  4. Loan Modification Mogul Sued For Duping Desperate Homeowners
  5. Loan Modification Questions: Escrow advances, Partial Claims and Interest Rates.

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  • Modify them quickly. There is no telling what will happen after the mid term elections!
  • What ever happened to people paying cash for things they want to buy?

    Cant afford a car, wait.

    Cant afford a dish washer, wait.

    Cant afford a house, wait.

    Not really a crazy idea.
  • I'd say that you're better off avoiding ALL fees when it comes to your refinancing options. Why pay a fee up front? Seriously, why? If they screw up, then you're paying for nothing. Literally. Nothing.
  • You know what I say: read over your paperwork carefully in the beginning, because the last thing that you want to deal with is modifying a loan or refinancing your house. The headache that you're getting yourself into--well, let's just say that it's not really worth it at the end of the day.
  • kraezd
    Thanks for the information
  • pbeigbabai
    Excellent blog. One of the best ones i seen.
  • I think that you're better off when you pick a loan that's going to work well from the start...
  • shannanhughes
    I was needing detailed information on a loan modification. You really helped me understand what would happen when I went through this situation. Thank you!
  • This blog is a great reference, particularly for areas hit especially hard, like the Sarasota real estate market.

    Awesome this thread is still alive and going strong!
  • I see what you're driving at, but I don't think that I'd like to do my own loan modification. Seems like there's way too much to mess up--too many details.
  • christine2222
    I have an ARM and have been paying 10.99% interest for 2 years. I have hired 2 companies to help with loan modification and nothing has been resolved.

    My mortgage has been sold yet again to another company that is more ruthless than the origianl company my mortgage was sold to.

    I am reminded that my mortgage interst has not been raised for over a year and that is the only positive comment I have received.

    Loss of employment, major medical expenses, are only part of my problems. I have almost totaly depleted my 401K and I am still told I make to much money for a loan mod.

    Folks my take home pay is less than I have made in 5 years.

    I need help and I am tired of being told there is none out there, I am grateful to still be in my home but I never know when something will happen and I miss a payment, well I know the home will be gone for sure.
  • mortgageloans2010
    We should see the ability to pay our mortgage. If there are problems, we can do Mortgage modifications, with the goal set monthly payments and avoid foreclosure of our property.
    Talk to our problems with mortgage developers, and and usually providers Mortage will give lower interest rates and change the length of our payment
  • forexqs
    I would love to read more about this topic.
  • I would advise getting the free help whenever possible. Over time we will see that many of these modification companies are scams. But free help may not always be your best choice. Buyer beware.
  • Nice post here. It does make senses, appreciate for sharing.
  • Great Post Dude, These idea help those people who has build networks, these is a really helpful for any homeowner facing foreclosure.
  • Thanks for giving all of the FREE info. There are way to many people saying they can help that just cash the check and do nothing. By using your tips at least its only a time investment and hopefully more people will get help.
  • Loan mods should always be free (to a degree). Companies that prey on people by charging "setup fees" are almost always a ripoff.
  • Loan mods should always be free (to a degree). Companies that prey on people by charging "setup fees" are almost always a ripoff.
  • steveligor
    This is the type of blog we need more of in the real estate industry. Keeping consumers informed should be seen as a benefit, not a detriment to us in the upper echelon.

    I will definitely keep checking in here.

    -Steve Ligor
  • joelcarson
    What a great service. Thanks for sharing your information and your ideas for good customer service.
  • What a great post! This is so helpful and I hope find as useful as I have. Good Luck with the blog and keep up the good work! Thanks and have a great day!
  • There's some really good info on this site that is extremely helpful for any homeowner facing foreclosure. I like the detail you go into regarding their options.

    Most people don't even know what choices they have, they just think if they ignore the problem it'll go away by itself ;)

    Well done!
  • NRI
    Great post, Great Ideas to help build network which pays for a long haul.

    Thanks much!
  • Great post! I hope people will find this as helpful as I did.
  • Great information presented through that loan modification e-book. Very straight forward way for homeowners to get loan mods on their own and save money!
  • I would have to agree. What an incredible resource for people to plug in to when deciding if they want to modify their loans.
  • baltimorehomes
    Most home owners do not understand or realize that they can actually apply and successfully obtain a loan modification from their lender until they are in danger of forclosure. In all reality you can benefit from this ebook and obtaining the needed information to obtain a loan mofification. It really is a very straight forward process.
  • costarica_realestate
    A lon modification is always useful in the sense that it helps current debtors to aliviate their current situation which improves their lives as a consequence
  • homeinspectionmorriscounty
    [...] of the federal tax credit for first time buyers which expires at the end of November. However, this seasonally adjusted sales 3-peat was also seen at the end of 2006 and the beginning of 2007 before sales activity fell sharply. In [...]

  • Jen
    I wish that I had found your blog before my foreclosure. Countrywide was my lender and well, I'm sure you can imagine the workout process nightmares. It was definitely a learning experience and I'm not bitter about it.

    Mine went into foreclosure due to a job loss. I am curious however have you ever heard of someone buying their home back after foreclosure? Is this possible? Fannie Mae was the mortgage provider in my case.

    Thanks again for providing such informative articles and resources.
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