Step 1

Securing help: The first thing you need to do is make the decision you need help, this lies entirely in your hands. You need to take action, one of the smartest actions you could take is calling HPM FInancial at (800) 701-5022. This is a quick process, but procrastination can drag it on way to long, and possibly cost you your home.

Step 2

The next step is getting a full loan modification package submitted to us for processing. We can either e-mail out these forms to you, or fax them to you. These forms be filled out and returned to us as soon as possible in order to speed up the process.

We will help you anywhere you need it, but it's largely up to you to make sure this gets done quickly. The worst thing you can do is drag your feet in providing information to us. After all, the lender will not accept an incomplete package, so it is vital you forward us all the information requested. Time is not on your side, and dragging your feet it could cost you a successful modification.

Step 3

The third step is internal auditing and underwriting of the file. Once your complete package is in, we will do an internal review to make sure everything is in and documented. We will make sure everything adds up, and make sure that we are submitting an accurate package. We will not submit your package unless our underwriters are confident we have built a solid case.

Step 4

The fourth step is to submit the file to be assigned to a loss mitigation specialist with your lender. Following our internal review, the package is submitted to your lender for assignment with one of their loss mitigation specialists. The time frame will vary at this point depending on the caseload of the mitigator, but it could be from a few days to a few weeks.

Mitigation process and getting a decision back. This is widely variable. Depending on your lender, you may receive a decision within less than a month or it could take up to 60 days. The lenders that are properly staffed will deal with your loan modification request in a timely manner, while those that can't handle the volume of requests will take longer.

Step 5

In the last step, waiting for a mitigator to come back with a response. Depending on your lender, you may receive a decision within a couple weeks or it could take up to 90 days. The lenders that are properly staffed will deal with your loan modification request in a timely manner, while those that can't handle the volume of requests will take longer. The complexity of your case will also factor into this process.