Home Loan Modification Financial Hardship Assistance: Getting Advice Is No Problem! Home Loan Modification Financial Hardship Assistance: Getting Advice Is No Problem! Loan modifications are a long-standing solution to financial difficulties, but they are getting a lot of attention lately, thanks to the passage of President Obama’s Making Home Affordable Act. Additionally, the new regulations have streamlined existing procedures. All of this means more borrowers can qualify. Studying your options for Home Loan Modification Hardship Assistance is time well spent. There is no point in delaying if you are currently experiencing problems. Move forward by scheduling an appointment with a loan advisor to discuss your circumstances while you still have many options available. Some advisors offer consultations free of charge, while others provide this service for a fee. HUD-approved nonprofits offer financial advice for free. However, due to the increased demand for loan advice, many new loan modification assistance organizations have emerged. Free advisors have their advantages and pitfalls, as do paid professionals. Legal services may be part of the offerings, so if you have a choice, select a service with an attorney who can help you secure your loan modification. Keep in mind that when working with a paid service, there is some risk of encountering scammers, given the large number of borrowers seeking financial help. Ensure the service is reputable before giving them your money. Check their credentials, such as their standing with the Better Business Bureau, and their company history. Start by scheduling an appointment to see an advisor. Bring any necessary financial documents to your meeting. The advisor will evaluate your current situation and consult with you to determine the best course of action. If your advisor determines that loan modification is the best option, he or she will guide you in writing a Loan Modification Hardship Letter, which explains to your lender why you need to modify your existing loan. Justifiable circumstances might include unemployment; natural disaster; death in the family; divorce; or unforeseen and extraordinary medical expenses. Be concise in your letter. The advisor will assist you and submit the letter to your lender along with the necessary supporting information. A loan modification service will advocate on your behalf and guide you through any challenging aspects you may encounter during the loan modification process.