Saturday, November 26, 2011

Loan Modification with Bank of America

Getting a loan modification and stopping a foreclosure is something that can often be accomplished if it is timely done and by making sure you meet the parameters required.
It is important to also know that the people who answer the phones in the modification department know very little. They simply gather documents and input the information you give them into the computer. The key is to know what the computer needs to know and to determine if it is possible to legitimately provide that information in the format necessary, and if it is possible to take steps to improve your situation to qualify.
It is important to find an expert who specializes in this to navigate through all the potential pitfalls.
Bank of America requires preapproval, so the process must begin as long before I scheduled foreclosure as possible.
Joel Steinberg of Midatlantic Loan Solutions in Alexandria Virginia has the expertise to do this.