This article written by Justin McHood, entitled “Loan Modification: What to Expect if You are not Currently Late” addresses questions that the Foreclosure Prevention Consultants at American Economic Solutions encounter every day.

In the section entitled “When Loan Modifications Make More Sense than Refinancing”, McHood discusses the topic of when to refinance versus a loan modification. He makes a great argument for homeowners who owe more than their house is worth. He suggests that it makes more sense to work with the homeowner’s lender to get the home loan modified, which may leave the homeowner in a better financial situation.

Another question our Foreclosure Prevention Consultants are faced with every day is, “If the client is not late on the mortgage can American Economic Solutions help the homeowner?”

McHood addresses this obstacle in the next portion of his article in the section entitled, “Loan Modifications: What To Expect If You Are Not Currently Late.” The best recommendation our Foreclosure Prevention Consultants can give is to let the homeowner know that the loan modification varies from lender to lender. While the loan modification process varies by lender, it also varies by each individual borrower’s situation. This is why at American Economic Solutions, we feel it pays to have an authorized company represent the client. We know how to work with various lenders and maximize homeowner/borrower benefits, not the banks’ benefits.
To read the full article referenced above, please visit the following site:
http://www.zillow.com/blog/mortgage/2009/01/28/loan-modification-what-to-expect-if-you-are-not-currently-late/