Treasury finally stated that banks must provide a single contact in a loan modification

The U.S. Treasury finally stated that banks must provide a single contact in a loan modification process! A while ago I mentioned the fact that one of the 5 greatest challenges facing a homeowner applying for a loan modification is the fact that they don't have a single contact point at the bank who they can deal with. Lost in a maze - Many consumers have stated that they feel entirely lost in a bureaucratic maze when attempting to secure assistance from their banks. It is unacceptable in my opinion that people should feel so helpless over an issue with is of such incredible importance, especially when it is so easy to make the process a great deal simpler. When you apply for a mortgage in the first place, you have the benefit of dealing with one point of contact. When you try to modify your loan in an attempt to save your home, you are often given an endless run around. Where is the sense and ethics in that? Double-standards in business conduct - In 2007, there were numerous cases in which banks would sent mortgage brokers to a client's home on a Saturday, and by Monday the client's home mortgage loan would be approved. This often occurred with very little documentation in place. When those same clients now need to have those loans modified, the waiting period is ridiculous, and the amount of required paperwork suddenly becomes a great deal more burdensome. Documents are often lost or misplaced. The key here is to work thoroughly and smartly. Keep a record of every piece of documentation you provide your bank with. If they make a request for the same information, ask them to recheck their files before you resubmit the documentation in question. High turn-over of key bank personnel - Another issue that is being reported by a number of homeowners is the fact that so called "relationship managers" at banks are getting burned out due to stress and workloads, and they need to be replaced with new staff. This can often leave the homeowner with the frustrating situation of practically having to embark on their loan modification application process all over again. It's apparent that the inefficient systems that banks have in place are of little benefit to staff and customers alike. Banks need to take responsibility for implementing efficient systems that are aimed at providing homeowners with real help and hope. More : Www.studentloan.com www Cash106.com www.69needcashnow.com Www.paydayforest.com www.vzcash.com Cash Free Fax Www.Pin506.Com Debtor Education www.1197needcash.com www Deposit222 com www.LastChancePaydayLoan.net cash129 Cash Advance in sixty Minutes. www.cash900.com wyoming loans Cash-787.com Www877cashnowcom 700fastcash www.delaware-payday-loan.com firstamerigo.com andrew mclean estate agents Mutualquickcashcom star advance lender SANANTONIOCARINSURANCEONLINE Wire 400 My Lp Card.Com www.wisconsinpaydayadvance.com www.pcpaydaycash.com www.payday-yourway.com pday30 com Quick Payday Loan iadvance netspend WwWowLendMoneyNow.com www.winstonsalempaydayloans.com www.cash700advance.com www.1278needcash.com rushcashusa Cash555.com cash advance pa RoadLoans.com www.lendingclubnetwork.com QUICKADVANCE.COM western inidan loans Standpointfinancial.com Christmas Loans Easy Online in Hour FirstMutualCash.com cash planet 100 day payday loans Quick Dollars Delivery www fastmoney101.com debit card loans Cash It In www.pdlnow.com mycashpickup.com www.winstonsalempaydayloan.com easy loans online no fax money in an hour guarantee www 1000pronto.com Www1loansusacom www.cashin60seconds.com www.pcpaydayloans.com www.69needcashnow.com Speedy Cash Kansas City Missouri Www.Payment Direct.Com same day payday loans PROGPAYOFF.COM Www.Cash125.com deposit888.com Priority Payday Loans my money partner skyy payday pday33.com www.112need cash now .com www.paydaybyreferral.com www.cash88.com www 1houronlinecashadvance.com QUICKADVANCE.COM Air Force Loans www.wirelesspaydayloans.com Auto Loan Check Cash Lenders.Com Www1000advance Cash Ready www.multiplepaydays.com www.customcreditservices.com indian reserve payday FAXLESSPAYDAYLOANSUPTO500 www.MyCashOnline.com America80.com Restructurepayday.com www.wuikpayday.com www.badcreditpaydayloanuk.com www.cashloannetwok.com Priority Advance cash 123 skyy payday auto loan check www.SOSMoneyCall.com www.359 need cash now .com Advancenowusa.Com Cash Advance San Antonio CASHNETUSACOMSAVE NEEDFASTCASHADVANCE