Most banks receive hundreds, if not thousands of loan modification requests every single day, but most will never be approved. I want to show you how to get approved for a loan modification at any bank, so that you can get your mortgage back to a level that is affordable. There were a lot shady and predatory lending practices that banks may have used to get you into a mortgage that has made it very difficult for you to pay it back. When things are not sustainable for you, the bank loses and so do you. That means you both have a mutual interest in modifying the bank loan to something that makes you both better off.
There are things that you have to show the bank that you're doing to really get them to consider your application. They're not really looking for a sob story about how you can not pay your bills. That does not really instill confidence in them that you can pay for things into the future. The first thing you want to show them is that you've tried every avenue available to make this mortgage workable for you. They have to see that you're not someone looking for a free ride, but someone that is working to keep their house and are willing to do what is necessary to keep it.
Another thing you can do that will really help the bank out is providing them with a very detailed budget of what you do with your finances. They need to see exactly how much you are working with and where you have to put it. You will also want to include another budget of what how you would expect to pay a cheaper mortgage. Include as much detail as possible, as well as the amount of hours you work to pay the bills. The more information they have, the more serious the consideration will be.
The last part on how to get approved for a loan modification is honesty. It can seem so convenient to just bend the truth or add on a little more expensive here and there. You're not going to get ahead by telling lies. Banks will go through your records, credit history and do every sort of background check available. If you lie, you're not going to get one. If you get done lying you will not get any help and will probably be foreclosed on.