Once you have taken a good hard look at your financial picture, and have figured out that you need help with your mortgage, it’s time to take some action!

Here are some basic steps to getting your lender to agree to a mortgage modification:

Step # 1: Be Pro-active
The best time to approach your lender for help is before you have become delinquent. Contact your mortgage lender as soon as you realize that you are in trouble. Once your account falls into arrears; it will be harder to convince the lender that you are trustworthy.

Step # 2: Check Your Lenders Website for Modification Procedures
Many lenders these days are offering a step by step guide to mortgage modification on their websites; complete with the necessary forms and contact names. Although modification isn’t something you can apply for online, using the information on the bank’s website is a good guide for getting started.

Step # 3: Make a Call
Once you have downloaded the information and forms you need from your lender’s website, you must call them and let them know you are interested in a loan modification. Have all of your paperwork and financial information ready when you call, and always ask to speak with a loss mitigation representative – they are the only ones authorized to modify any mortgage loan.

Step # 4: Keep Your Cool
No matter how the person on the other end treats you, it is crucial that you remain calm and polite when speaking with your lender’s representatives. The fact remains that they are under no obligation to help you and if you allow your emotions to run wild, you may find yourself without the modification help you need right now.

Step # 5: Get to the point
Once you get the right person on the phone you’ll want to make your pitch for a modification quickly. Practice explaining your situation clearly and briefly before making this important call. Give the information they need to begin the process without belaboring each point and wasting the representative’s time. Remember, they must work with hundreds of people just like you every week and the odds are they’ve heard your story a thousand times since the mortgage crisis began.

Step # 6: Don’t Be Afraid to Ask for Help
Be sure that you know exactly what type of mortgage modification help you need and be sure to ask for it. You wouldn’t believe how many people call their lender asking for help, without ever telling the person on the other end of the phone what they really want. Then they are angry when they can’t get their payment lowered to the amount they need. Be clear with your requests.

Step # 7: Be Sure to Follow up
Every time you speak with someone on the phone, be sure to get all of their contact information (name, title, department, phone number, etc) and document what you talked about. That way, if questions or disputes arise, you will have a clear record of what was said (and by whom). Finally, always send a written thank you to everyone you speak with as a polite follow-up to your conversation. It’s a great way to help people remember you and make them more willing to go that extra mile to help you out.