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The Loan Modification Blue Print, LLC

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As Foreclosures Dip Slightly, Homeowners Should Look to Loan Modification as a Way to Avoid Defaulting on Home Loans, Says Loan Expert Michael Shaw

Shaw, the creator of The Loan Modification Blueprint, cautions homeowners to look at loan modification rather than going into foreclosure and losing their home.

Jackson, WY, April 14, 2015 --( In March 2015, released their list of the top 10 states in America that have the highest rates of foreclosures. The foreclosures for the United States fell by 4% from January to February of this year, however, the report by demonstrates so many homeowners feel like foreclosure is their only option to escaping a too-high mortgage payment. “Not true,” says Michael Shaw, creator of The Loan Modification Blueprint. Shaw has been underwriting home loans for 9 years. His new system is a course that teaches homeowners the reasons why so many applications are denied, and how to circumvent this.

“I've seen many homeowners get frustrated after they're denied, and think their only way out is to let their home fall into foreclosure. However, it's not, and they need to know that they have options,” says Shaw.

The loan modification process underwent an overhaul in 2009, and many homeowners may be unaware as to what one is, how to get it, and what they need to apply. When the housing market crashed in 2008, it left many homeowners owning far more than their home was worth, thus many of these homes then went into foreclosure. Shaw cautions homeowners from pursuing foreclosure if they haven't at least attempted a loan modification, as they might lose their home needlessly. To save underwater homeowners from going into default, Shaw says they need to be upfront with the lender and communicate any difficulties they're having paying the mortgage, before going through the loan modification application. “You should always be upfront about your needs, and explain why you can't make the payments. Maybe your hours have been reduced, or you've had a costly medical situation. They need to know so they can understand your situation. You should then ask about their application process, and find out what they need, and how long it can take,” says Shaw.

Shaw's The Loan Modification Blueprint system was designed to be a guide on how to avoid rejected and delayed applications, and is based on years of experience. His one number piece of advice to homeowners who are afraid of foreclosure and are hesitant about a loan modification?

“Understand that the bank in business to make money and public perception means more to the bank than any one property. Its looks better for them to give you an approval than take your home to foreclosure.”

The recent news of a decrease in foreclosures is enough to make Shaw hope that homeowners will seek loan modifications and talk to their lenders if they're unable to make regular payments. As the housing market heads into spring, he says it will be interesting to see how the foreclosures rates shift over the next few months.
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The Loan Modification Blue Print, LLC
Michael Shaw

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