Modification Mindset - Making it Through the Gauntlet

Positive Out Look and Determination:

Many people go into the modification process with the mindset that they “hope” they will get a successful modification.  They “hope” they qualify or they “hope” their bank with help them.  This is not the mindset it takes.  Although it is always good to have hope, the best mindset is one of positivity, confidence and determination.  Have the attitude that you “will” get a modification.  The bank “will” help you and you will do whatever it takes to show them you need help, and you qualify.  This will help you in a few ways.  It will come across on the phone to the people you speak to that they cannot just dismiss you.  They must give you adequate answers and show you what you need to get your modification.  It will also help you stay focused on the goal during what can be a long and difficult process.  By having this mindset, you increase your chances of success, and improve your own well being.

Be Tedious

Take copious notes.  Record everything that is said and keep a timeline of everything you do.  Keep a strict calendar and never miss a time you are supposed to call in.  Also, call in twice a week even if just to get the same answer.  What you are really doing is trying to talk to as many people as possible.  You are also trying to find that diamond in the rough.  That person with the authority to actually look at your case and make a decision on it.  Sometimes you could get lucky and just by talking to the right person at the right time, get you loan modified quicker aster and better than the status quo.

Stay Calm and Don’t Compare

Remember, everyone’s situation is different.  Your neighbor may be in what you consider to be the same situation as you.  You may even think that you deserve a modification more than them.  You cannot play this game.  A lot of time these modifications are very complicated and depend on things you cannot see on the surface.  You cannot get all worked up because your neighbor or your brother in law got a modification.  Remember, your situation is completely different.  Stay calm and relaxed and focused and eventually you will give yourself the best chance to get modified.  Stay positive, it’s all you can do.