SAN DIEGO, March 30, 2013 /PRNewswire-iReach/ -- LoanSafeMods.com has been able to help many homeowners who were having trouble getting their loan modifications approved by providing them with access to the REST Report, a third party analytics tool that can help them to see what types of foreclosure alternatives they qualify for before they even submit their request to their banks.
This report can also be used to show the investor how they would stand to profit more from approving a mortgage modification rather than foreclosing a property. In this way it can "add weight" to a modification application and help the process of approving the request to go faster and much more smoothly.
The team at LoanSafeMods.com not only helps homeowners by running the REST for them, but they also help to explain the process to their clients and are always available to answer questions whenever problem situations arise.
This has helped many homeowners to have more peace of mind and less worry about what will happen to their homes. Dealing with banks can be a scary ordeal for many people, as often they don't know what is going on with their applications and banks are notoriously uncommunicative.
The REST helps to alleviate these fears. It will let the homeowner know exactly what they qualify for within a few short days. Usually they would have to wait until the modification request is either approved or denied, a process that can take up to a year.
Also, if the request is denied, they would have no idea what the reasoning behind the denial was. But with the REST Report if there is any problem with the application this will show right away and give the homeowner a chance to possibly remedy the problem.
One homeowner who has benefited from the information provided in the REST Report is Mona. Mona and her husband live in Point Loma, and as a self-employed family they were hit hard by the recession in their line of work.
Faced with foreclosure, the couple sought a mortgage modification that would allow them to keep up with their monthly payments. However, as most people who have applied for a modification have found, this was much easier said than done.
The couple was stuck in modification limbo as the bank would constantly ask them for more and more paperwork. Mona says of the situation:
"I must have faxed boxes of documents over and over and over again. Never receiving any help with any of it. I was exhausted mentally. We'd just had it. We're lucky we stayed married. It was just very trying. "
Finally Mona found the REST Report through LoanSafeMods.com and the situation started to improve from then on.
"Things went very quickly with our modification using the REST Report and presenting the numbers to the bank in the order that they need to read them." Mona says in her REST review, "It was a blessing and it wasn't something that I could have figured out on my own, especially at that point."
Now the couple can afford to keep their home since the modification reduced their monthly payments to about half of what they had previously been paying. And Mona is no longer living in fear of her bank. She says: "There were times when I panicked because the banks have to run it out; they have to send you the scary letters. But the REST team put me at ease and explained that those were just form letters that were going to be sent out regardless."
For more information on the REST Report and how it can benefit struggling property owners, click here.
Media Contact: Patrick Miller, LoanSafeMods.com, 1-800-519-1887, firstname.lastname@example.org
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