It seems like lenders grant or deny loan modifications at random, but there is a set of criteria that they follow, that until now has been a bit of mystery.
Our guest on this week’s Crushing Debt Podcast, Sue Reynolds, a Realtor with Archer Realty, created a worksheet using the bank’s formulas to support when clients should qualify for a loan modification.
Sue created the Homeowner Expense Analysis Worksheet to use as a supporting document in applications for loan modifications and short sales. The Expense Worksheet is a budget worksheet that helps predict when a modification should be denied or approved. Sue has allowed me to share the worksheet with you!
Go to www.ShawnMYesner.com/ExpenseWorksheet to get your free copy. You can also contact Sue at Sue@ArcherRealty.us, or contact me at Shawn@YesnerLaw.com to learn how to use the worksheet and what to avoid when using the worksheet.
In today’s episode, you’ll also learn what loss mitigation is and what they do.