First, you need to find the number for the Loss Mitigation Department for your lender. Most lenders have this information posted on their websites but you can call the number on your statement and just ask.
Once you have requested assistance you will be a assigned an underwriter or a loss mitigation representative. This person will be very instrumental in helping you obtain a satisfactory modification so one of the most important bits of advice I can give you is, “BE NICE”. Remember that they are not the ones that got you into this situation and you are relying on them to help you get out of it. Even if it’s a situation where you don’t deal with just one person they will have detailed notes for all to read in their system so be nice to everyone you speak to.
Loss mitigation departments are quite busy these days so a little bit of understanding goes a long way, be patient. Don’t be afraid to be persistent but at the same time understanding. Call every day if necessary but listen carefully and don’t ignore their advice. Let them know how serious you are about modifying your loan. You just want to keep your home. Next post we’ll highlight the exact steps you should take…
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