Why would you settle for a loan that is modified from a 9% interest rate to a 7% interest rate when you can just as easily qualify for a 4% interest rate? The difference between 7% and 4% can equal thousands of dollars over the life of your loan.

The Treasury Department insists that loan modifications are FREE. In theory, their statement is true. You can call your lender, servicer or investor and attempt to modify your loan. When you call your lender, be prepared for:

1. Customer disservice
2. Delays
3. Dealing with a customer service representative who has no authority to modify your loan
4. Promises of a loan modification 6 months from now
5. A loan modification offer that still does not meet your needs

You may receive an offer from the lender. But you are also very likely to be leaving money on the table. So again, why would you settle for a loan that is modified from a 9% interest rate to a 7% interest rate when you can just as easily qualify for a 4% interest rate?

A professional is equipped to handle this negotiation for you. There is a fee but you are likely to make up the cost of service within months while you will enjoy lower payments, in many instances, forever.