Friday, August 28, 2009

Software Lets Consumers Create Modification Plan

Posted on the Housing Wire by Austin Kilgore:

Minneapolis, Minn.-based launched a software product for consumers to create their own mortgage modification proposals that conform to the Making Home Affordable Modification Program (HAMP).

The Web-based application has a series of online forms the borrower completes to create a modification proposal, and has functions to create hardship letters and written pre- and post- modification proposal.

The ease of the modification proposal comes at a price. The software costs $595 on its Web site. is also selling rights (at $200) to third-party individuals to resell the software.

The software developers tout the offering as a “simple, affordable and effective solution” to the growing disconnect between government programs, streamlined modification initiatives at large servicers and the growing number of financially constricted borrowers.


  1. Is the name of the software LoanModCreator v3.0?

    @ I believe it is...any reviews as to the functionality/effectiveness?

    Thank you,

    Josh, Mortgage Market Guide

  2. That's right, but I've seen no reviews. I presume the trick to writing that software would have been to be inside one of the HAMP servicers to have access to all of the many authorized assumptions. I tried to get hold of them, but was told to take a hike.


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