If a lender is considering a loan modification, how important is the borrowers story as to why the borrower needs a loan modification?
A. – It is extremely important. It is the only way to personalize a borrower’s situation. Lenders are receiving hundreds of thousands of requests to modify home loans. It is important that a borrower be able to distinguish him or herself from all the other borrowers asking for loan modifications. The only way to do this is by explaining what has led to the borrower’s situation that is now requiring a loan modification.
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