Do not Totally Leave Your Loan Modification up to a 3rd Party
Why should you trust something as important as trying to keep your home in the hands of a total stranger. I am not saying you should not give them a chance to work on trying to help you, but keep up with the progression of their work. Always try to have a hands on approach with your loan modification, after all it is your property that is at stake.
3rd parties will try to give the impression that they have everything under control even if they don’t. Always get the details on exactly what is going on with anything such as a loan modification or a short sale. Find out if you need any particular documents such as : pay stubs, bank statements, utility bills, leases, or anything else that may be of any importance in the decision making process of a loan modification. The best way to operate when using a 3rd party to accomplish your mortgage goal is to go over the work that they are doing on your behalf. Go over with the persons assisting you and tell them what your goals are, tell them how important it is to your and your family to achieve these goals, and tell them you want regular updates even if there was no update. Call your lender and find out when was the last time the 3rd party called in, how often they check in for updates, what do they call in for and do they take care of what’s required if anything to progress the loan modification process. Just check on their work to make sure that they are following up in an acceptable manner and not just putting you on the back burner with substandard service. Sometimes when a 3rd party is paid upfront, they can get sloppy with their work; they might also be trying to take on too much business at once, and you could end up being affected. If you and having problems you may need to have a talk with them one on one and let them know that you expect more, and why it is so important for them to do their best at assisting you; emphasize the reasons again.
In some case 3rd parties can become complacent and do not complete the high quality job you would expect of any professional. Sometimes just having a talk with them and expressing exactly how you feel and what you expect can turn things around for you. Do not shy away from something that is so important to you and your family.
