California, USACalifornia based The Loan Modification Foundation is standing alongside the federal government in the fight against loan modification companies operating scams against customers desperate for assistance trying to save their home. On August 3rd, The Loan Modification Foundation is releasing the HAMP Guide. The HAMP Guide is an effort to team up with President Obama and the federal government to provide homeowners all of the guidance and support they need to get their loan modified.
Although the Homeownership Affordability Program (HAMP) was introduced by President Obama on March 4th, it is only now starting to be implemented by mortgage lenders. The goal of the manual is to give homeowners a step by step guide on how to modify their loan on their own with assistance from The Loan Modification Foundation attorneys and consultants.
According to John Carroll of The Loan Modification Foundation, this will be the only product of its kind which will not only offer a step by step guide but will also make available a personal consultant who will provide homeowners with assistance and walk them through the process as they work with their lender to modify their loan.
This manual is an effort to give homeowners a simple and easy to follow guide on how to successfully modify their loan without paying thousands of dollars they dont have to an outside company that cannot even guarantee if their loan will be modified or not.
The HAMP Guide is being released in response to complaints from homeowners regarding free services provided to homeowners that are government agencies. These agencies, such as the U.S. Department of Housing and Urban Development (HUD) who are employed to counsel homeowners in need of a loan modification, are lacking the experience required to walk homeowners through the whole process. Homeowners have been encouraged to modify loans on their own but up to this point, they lacked the confidence and support necessary to navigate through the process.
The guide, expected to be released August 3rd, comes with full phone support. As a result, if a homeowner gets stuck at any point in time, they can call for support and get assistance from lawyers and consultants on how to proceed with strategy and tips that are easy for homeowners to understand and implement when working with their lender. These consultants and lawyers will be available online and via phone in order to assist the homeowners on how to modify their loans and negotiate the best terms on their modification.
This online manual is being released to assist homeowners struggling with their mortgage payment whether they have missed a payment or not. Since the HAMP Guide comes with free phone support, this should put to rest any concerns about lack of experience or knowledge when it comes to homeowners getting their loan modified.
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