FreeMortgageFix.com says it has launched the first ever free online software designed to allow borrowers to create personalized loan modification applications for submission to their servicers under the Home Affordable Modification Program (HAMP) and lender-specific programs.
According to a press release from the company, the proprietary FreeMortgageFix.com software performs more than 100 different calculations and analyses in order to compile a customized report according to the user's specific financial situation and lender. As long as consumers pass its debt-to-income ratio, net present value and ‘general eligibility’ tests, the website will automatically populate forms that can then be submitted to servicers, FreeMortgageFix.com says.
CEO Jonathon Ende says paperwork is ‘undeniably the number-one reason’ for HAMP processing delays.
‘As this concern continues to escalate nationwide, we wanted to provide an equally affordable and helpful solution that can help turn families' lives around in less than 15 minutes,’ Ende says.