Loan Modification Tips

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Loan Modification Expert and Attorney, Michael Gaddis, J.D. provides tips to those attempting to obtain loan modifications on the October 7, 2015 episode of “The Michael Gaddis Show” on San Diego’s KCBQ AM1170 The Answer.  During the segment Michael Gaddis, J.D. urges borrowers to stop believing misleading advertisements as well as to face the realities of their situation.  Michael Gaddis also tells homeowners to not give upfront money to ANYONE for loan modification services.  Michael Gaddis, J.D. then provides tips such as 1) Beware of lenders because they are not your friends!  2)Make sure that the loan modification file is complete 3) Do not waste time 4) Follow up with the lender at least 3x per week and 4) Keep detailed notes of who you talk to as well as the date and time of the call. Michael Gaddis, J.D. also discussed things that might make a loan modification more difficult such as:  Equity, owning multiple homes, being self-employed, previous loan modifications, difficult servicers and low currently scheduled payments due to adjustable interest rates or previous loan modifications.

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