LoanSafeMods.com: REST Report Helps Homeowners Find Solutions To Their Mortgage Problems
SAN DIEGO, April 10, 2013 /PRNewswire-iReach/ -- LoanSafeMods.com can help struggling homeowners find solutions to their mortgage problems with the REST Report. The REST (Real Estate Services and Technology) Report is a third party analysis tool that helps determine what foreclosure alternatives are available based on the particular mortgage situation. It can show homeowners if they would qualify for HAMP, HARP or other government and non government loan workout programs or even exactly how much they would need to short sale their home for if they choose that option instead.
More and more people have been applying for loan modifications since the government cracked down on banks and loan servicers for suspicious foreclosure practices. Now it is compulsory for loan servicers to grant mortgage modifications to mortgage holders that qualify for any of the various modification programs out there. However, while more people are applying for modifications, the amount of people who are actually getting approved for them is not what it should be.
Sometimes the problem is negligence on the part of the servicers; they do not stand to make as much money from successfully modifying a mortgage since it is actually only the lender that has been given incentive to do so through the various modification programs. Other times it is just a matter of not enough experienced bank staff to handle the amount of incoming modification applications.
The result is that the homeowners' important papers often get lost or misplaced and so they are asked to constantly resubmit their applications or send in new documents. These delays can go on for months or even years and in some cases the homeowners end up just giving up in the end and losing their houses to foreclosure. Other times the modification is denied outright, when really the person should have qualified for the modification program.
These problems can be solved by utilizing the REST Report. By running the analysis, homeowners will be able to see within just a few short days exactly what they qualify for. More importantly, however, is the fact that the report will also show the servicer exactly why the homeowner qualifies. The analysis will organize all the important information in just the way that the bank needs to read it in order to make the decision to approve the request.
This makes it easier for overworked bank staff to do their jobs, as they will not need to sift through the massive amounts of paperwork that is usually required before they can approve a loan modification. In this way, utilizing the REST Report can help to speed approval of a mortgage modification request or even push a stalled application through to approval. In cases where the bank is stalling the approval on purpose, sending in a REST Report can also show them that they will not be able to continue to treat the homeowner unfairly, because if they do, the REST analysis can be used as evidence in a court of law if need be.
These benefits make the REST Report one of the most powerful tools for homeowners seeking to avoid foreclosure. For more information, please visit LoanSafeMods.com for a free consultation with an experienced homeowner advocate.
Media Contact: Patrick Miller LoanSafeMods.com, 1-800-519-1887, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE LoanSafeMods.com
Share this article