The art of war loan modification style

Due to the current recession, you might be one of the many who is in the danger of losing your home! If you do not fight hard, and fight now, you will lose almost everything. Never forget that this is a kind of a war where you have to fight for your rights.

Grab your armor and weapons and start training for the fight of your life. You are getting set for a battle with one of the toughest and most powerful opponents in the world. Big money banks, lenders and investors!

Banks are some of the oldest and most powerful institutions in the world. They have had hundreds of years of practice, influencing political parties and economic systems the world over.

In order to win, you must not forget that you are in the fight of your life. Any good fighter will tell you that when you plan to fight with an opponent, you must first analyze the strength and weaknesses.

Be aware of your lenders strengths:

1. A lien on your property in the form of a mortgage.
2. The right to take your home in foreclosure to satisfy the lien
3. The law is currently on their side
4. A loss mitigation system designed to discourage you.
5. A negotiation process geared towards getting naïve homeowners to accept an arrangement not in your best interest.

Apart of the strengths, your lender has certain weaknesses as well:

1. Prospect of foreclosure in a down market with few buyers.
2. Costs of foreclosures.
3. Depreciating assets REO properties.
4. Liability of carrying properties
5. Tied up capital and reserves for bad loans
6. Possible errors in loan documents
7. Possible violations in loan documents
8. Incorrect interest calculations in ARM rates
9. Court cases that can cause PR problems, costly litigation, and possible creation of legal classes.

Suffice it to say, lenders have plenty of things to fear in this market when it comes to trying to recover their losses. In most cases, if the matters are on the verge of going to the court, 95% of the lawsuits are settled and never reach trial. Banks know this better than anyone, and they don’t want to have to face the prospect of lawsuits from borrowers that they have wronged.
Over the years, lenders have gotten fat and little lazy in their training habits and fighting tactics. Knocking homeowner, after homeowner out in foreclosure. Winning fight after fight.

Their cocking and arrogance have put them in a bad position. This is just plain stupid because the banks have made many mistakes in the laws which they tend to manipulate with their major contributions of campaign money.

For more infor about loan modification you can read: http://www.hud.gov/offices/hsg/sfh/nsc/faqlm.cfm