How Can I Negotiate A Florida Loan Modification With My Lender?

PR Log (Press Release) – Oct 29, 2009 – More and more Florida home owners are turning to their lenders for help, by means of a Florida Loan Modification, in hopes to get some type of payment relief so that they can keep their head’s above water and so that they don’t have to go through the stress of losing their homes to foreclosure.

This is a burning question that is on the minds of home owners all across the state of Florida, as many of these consumers are facing financial hardships such as job loss, reduced hours at work, unexpected expenses like a death in the family and an adjustable rate mortgage to name a few.  Now they have to come up with a way to get back on track financially and getting a new job or a second job seems almost next to impossible with the current economic crisis.

Many Florida home owners are now realizing that refinancing is no longer an option because they do not have any equity in their property, as Florida has seen one of the worst declines in property values nationwide.  That’s partly due to the fact that Florida is one of the bubble states that saw significant increases in property values a few years back.

A Florida Loan Modification have proved to be more beneficial as it can be done for free, if the home owners works directly with their lender, you don’t need equity to qualify and you can even have late payments or be in foreclosure and still qualify for a Florida loan modification.

Before you approach your lender, you will want to visit their website to see what type of documentation will be required for submission.  Typically most banks will require the following:  2 years tax returns, 2 most recent paystubs, 2 most recent bank statements, current mortgage statement and a hard ship letter.  Your hardship letter will tell the lender why you need your payments reduced, you will want to keep this letter short and sweet, no 5 page essays are required, as they don’t have time to sit down and read paragraph after paragraph, just give them a snap shot.  When you do start speaking to your lender you will want to take very detailed notes and make sure you get the full name and contact information for the representatives that you speak to.

Florida - based loan modification expert Marlon Baugh specializes in providing information to consumers that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Marlon Baugh is available for interviews and will welcome all your mortgage related questions.

Call 954-678-5796 Ext.1 for a Free No-Obligation Consultation or visit

http://www.specializedfinancialsolutions.com