ModPilot Guides Homeowners to Successful Do-It-Yourself Loan Modifications

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Oceanside, CA, July 8, 2009 — All over America, homeowners continue to struggle with their mortgage payments. Even those who haven’t lost jobs are finding themselves upside-down, owing more than their homes are worth. In some of the hardest-hit parts of the country, home values have dropped to 50% of what homeowners owe. Most Americans are stuck with a payment too high to afford, with no way to sell their homes without resorting to short sales.

The solution, according to President Obama and other government officials: Homeowners should contact their lenders and get loan modifications. The reality, according to legions of distressed homeowners: Lenders are making it as difficult as possible on struggling Americans. Some lenders have even pushed legislation such as California Senate Bill 94 that eliminates the homeowner’s right to pay for attorney representation against their abusive lender.

But thanks to consumer advocate software ModPilot(TM) (http://www.ModPilot.com), homeowners now have an effective weapon in the fight to get mortgages modified. This proven system was created by a team of loan modification attorneys, expert lender negotiators and consumer rights advocates. ModPilot is a new guide to help homeowners easily and successfully negotiate the loan modification process. The tools in ModPilot are the same techniques, contacts, forms, and methods used by some of the most successful modification attorneys and expert negotiators in the nation.

ModPilot is based on the experience of negotiating hundreds of loan modifications. Each ModPilot package is full of tips and strategies used by the industry’s leading loan modification professionals, including all the latest information about government programs like President Obama’s new Home Affordable Modification and Refinance Program, presented in an easy-to-understand format.

ModPilot was designed to be an inexpensive, effective way for homeowners to negotiate directly with their lenders without the risk of paying a large upfront fee to a potentially unethical, unreliable or even fraudulent third-party modification company. The step-by-step guide walks homeowners through the process of getting their lenders to work with them and helps homeowners determine which program - loan modification, Home Affordable Modification and Refinance Program, refinance, etc. - will work best in their unique situations. The ModPilot package is lender-specific custom-tailored for each client and includes some needed information that is not readily available to the public.

ModPilot comes with a wealth of information and is packed with practical tools to help ensure homeowners success. All forms are available in Microsoft Excel or Word for ease of use; all necessary calculations are already built in and work automatically with the homeowner’s data. A monthly budget and debt calculator, a phone log, and instructions for everything from clearing unsecured debt to stopping foreclosures round out the ModPilot package.

Richard Herro, an experienced consumer advocate who has helped hundreds of homeowners through the modification process, asked, “Does anyone really think lenders want to lower rates, payments or principal balances?” “Remember, they have been pressured by the Fed to help when they can, but lenders will find any reason under the sun to decide they can’t do it. ModPilot levels the playing field and enables homeowners to be successful even if their lenders have denied their loan modification requests in the past.”

ModPilot is available in Silver, Gold and Platinum packages; the Gold package includes unlimited e-mail support, while the Platinum package includes unlimited phone consultations and one-on-one coaching. The packages start at just $495. To learn more about the ModPilot program and see exactly what each package includes, visit http://www.ModPilot.com

Other press releases from ModPilot Inc

• Thousands of Homeowners Benefiting from Government’s Home Loan Modification Program - January 13th, 2010
• While Home Values Continue to Slide, Many Homeowners Still Seek Relief Via Loan Modifications - August 19th, 2009

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