If you live in California you may have a better chance at getting a loan modification. Although no lender, servicer or investor will admit this, you may be a more eligible candidate for a California loan modification because California is considered a "hard hit area."
A hard hit area is an area designated as such because it's housing market has taken a very hard hit. California home values have been very hurt over the last few years because California received some of the most extreme false growth over the previous decade. Because of the appeal of California it had become a center for quickly rising housing prices, as well as the mortgage banking/brokering capital of the country and well as an area of heavy home building. All of these things, which were so great for so many years, became horrible attributes as the waves of foreclosures began to smash home values and erase the personal worth of many California families.
If you live in California and you are having trouble with your mortgage, you may want to consider a loan modification. Although this is a difficult conquest, there are some entities out there who have become very specialized and can really help you out. For some free information and a referral if you’d like, contact Loan Modification 411.
