Max Gardner's Mortgage Loan Modification in a Box Program
Loan modifications. Everyone wants one and no one really knows the secret to getting one, until now. We’ve seen many trial modifications that are rejected before the trial period ends and sometimes consumers are left on that trial mod program indefinitely without reason. The reason really lies in all the fees the servicer continues to rack up and charge you while your account remains in limbo under this program. It’s complicated how the loan servicers actually get paid and they don’t want you to know that they’ll try their hardest to get all they can from you while they seek reimbursement from the investors that actually own your loan. We call that "Double Dipping."
A great way to force the loan servicer to provide you with a permanent loan modification is to call your bankruptcy attorney the moment you’re approved for a trial modification with a payment you can sustain. What happens is that your bankruptcy case provides protections to you that prevent the lender from later denying that trial modification because you first get the automatic stay injunction that prevents any foreclosure attempt on your property. Next, once your Chapter 13 Plan is confirmed, it’s binding on all parties. This boxes the lender into making your loan modification permanent. I give Max Gardner the credit for coming up with the strategy and the name for this program I learned at his Bankruptcy Litigation Bootcamp.
A modification is a great way to start your road to reorganization of your debts under Chapter 13 of the Bankruptcy Code. If you work with a bankruptcy attorney that focuses their practice on mortgage issues, you can be certain that they’ll attack the loan servicer, lender on every front from whether they have the right to enforce your Note, and scrutinize their accounting methods.
