do it yourself loan modification, stopping foreclosureThe weather was just perfect for a bike ride Saturday and on my way to the canal where I like to ride, I stopped at a home where they were having a yard sale. They had all sorts of good stuff on the driveway and I was wondering why they were selling everything and the wife told me that they were working on a do it yourself loan modification, but weren't sure if the mortgage company would approve them. They thought that working with their bank on stopping foreclosure would go through, but just in case it didn't, they wanted to take advantage of the fine weather to get rid of some things that they weren't using much and raise a little pocket money by having the garage sale.

Since I was on my bike, I didn't have any way to carry anything home, but I did find a pair of loppers that I sorely need to prune the yard, so I paid for them and said I'd drive over this week to pick them up after work. When I picked them up today, I was happy to hear they were successful at stopping foreclosure and that their do it yourself loan modification had been approved. I asked her how they did the do it yourself loan modification, and she said that they called their bank when they realized they were in trouble. She said it took time, but was worth it. Their bank doesn't need one more toxic asset on their books, so they were actually quite cooperative, she reported.

It was a success story I was happy to hear. Although I don't know these people, I feel good for anyone who is able to employ a strategy for a do it yourself loan modification and avoid foreclosure. Many of the families who had to leave their homes end up in apartments and for young children, this is not the most pleasant way to live, although it is doable. For many families in homes they can't afford, stopping foreclosure is at the top of their list and whether they are able to make more money with part time jobs or by cutting fat out of the family budget, hanging onto the house is their top priority.

It wasn't until I got back home from picking up the tool that it occurred to me that I should have offered to sell the loppers back to her since they were staying put, but then I realized that they were saving so much money by not having to move and could afford a new pair of loppers themselves. I put my great garage sale find in the tool shed and had a nice evening with my family, vowing to follow her steps should we ever be faced with financial difficulties.