Finding a trusted financial advisor is very important both for your own state of mind and for your mortgage and the best way to do this is to consult with those who have worked with one in the past. If you don't know anyone who has employed a financial advisor in the past or you are worried about your reputation because of your need for this service, you might be hesitant to do this. Whatever your situation, you need to find the right specialist.
Your local real estate agents might be able to help you find a specialist. Usually they know someone who has experience negotiating with lenders. It is in your best interest to find someone who has had experience with foreclosures, bankruptcy and contract negotiations.
Many homeowners are worried about letting their lending institution know they are having financial difficulties. However, your bank may be able to refer you to a specialist that they know and have dealt with in the past. Nothing bad will happen just because you ask and sometimes your banker might be able to give you other advice. You will not be the first borrower who has experienced difficult times and really, the bank does not want to foreclose on you, they want to help you.
You could ask you local state bar association for a recommendation as well. Find an attorney who has dealt with situations similar to your own. A law firm that has dealt with foreclosures in the past might be able to help you obtain a loan modification to avoid such a result in your case. The law firm might also recommend a lawyer one of their clients has used previously.
After you have done the research to find a loan modification specialist, select your top three picks. Contact each one, tell them a little about your situation and see if they will help you modify your home loan. Take some time to get to know whomever you hire before you begin giving out personal information like your Social Security number, state driver's license number, mortgage ID number, or and other information like your credit card numbers. Even then, never give this information over the phone.
If making your monthly mortgage payment is causing you stress each month, read this article to find out how to select a loan modification specialist. This might be as simple as asking for
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