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Marshall Carrasco Reno's #1 Short Sell Expert www.renohelp.org. Increase your chances of being approved of a refinance by avoiding these common mistakes and how to avoid them.
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Top Loan Modification Mistakes
www.renohelp.orgCall : 775-525-1205
www.renohelp.org
#1!Gather documents after applying • You should sit down and make an assessment of your total monthly income and expenses before you submit any numbers. • Also gather all relevant documents to show proof of income. • You don't want to begin a loan modification review only to keep your lender waiting around while you begin searching for everything they request.
Call : 775-525-1205
www.renohelp.org
#2! Waiting until the lender contacts you with updates • Follow up is a ton of work and takes up quite a bit of time, but you must call at least once a week. • You will most likely get the same response for weeks on end, but you can never count on your lender contacting you if they need something. • They may close the review if a document is requested for too long with no response; calling at least once a week throughout the loan modification process is the only way to do it.
Call : 775-525-1205
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#3! Not properly identifying documents • Include loan number on every document you send.• Your lender receives a never ending stream of faxes and as you can imagine, if one page is separated it will never find its way without the loan number.
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#4! Not signing the proper forms • Sign the tax forms. It's a very simple one but many people just assume that their taxes are already signed and send them out. • This may cause your lender to continually ask for tax returns when they have already been provided. • Avoid this by reviewing any tax docs provided and sign in the appropriate spots.
Call : 775-525-1205
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#5! Giving up after your lender denies the application • Never give up. Many people spend countless hours desperately trying to modify their loan, only to have it denied in the end.• This doesn't mean you're out of luck and many times you may be closer than ever to success. • You will need to ask why it was denied and then work to correct any inaccurate information as fast as possible. • People are denied everyday for mistakes that can sometimes be fixed very easily, don't let it happen to you and never stop trying.
Call : 775-525-1205
9740 S. McCarran Blvd #103, Reno, NV 89523
Call Us : 775-525-1205
Contact MARSHALL CARRASCO
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