Homeowner Toolbox Inc. has launched a service which offers an automated loan modification solution for consumers that is priced at just $99. The company, founded by financial experts who wanted to offer proven modification techniques in a self-guided, automated process, was created to make loan modifications accessible to all homeowners at a price that wouldn’t contribute to their financial difficulties. Unlike other modification solutions that cost thousands, Homeowner Toolbox offers a detailed financial evaluation with tailored guidance on how best to present a modification package to a lender for maximum results, for a fraction of the price. The homeowner is then provided with a print-ready/submission-ready package that can be sent directly to the lender, direct from the homeowner. Homeowners, who want to take advantage of this low price but are currently engaged with other loan modifier programs they are unhappy with, can also use the Homeowner Toolbox service to try and recoup any monies paid with a click of a button. “We are excited to offer people a solution that is not only affordable, but one that truly works,” said Andy Firoved, co-founder of Homeowner Toolbox Inc. “By automating the process with our modification experience and giving homeowners the tools they need to work directly with their lender, we have been able to cut the cost of the modification procedure and put the power of that process directly into the homeowner’s hands.” Using the Web-based tool, homeowners are guided through the modification process where they identify their current lender and then proceed to a Financial Worksheet, (a required lender document), that details monthly expenses and specific mortgage information. The system will even provide a free statistical evaluation of the lender’s home compared to their current property tax assessment; this alone could save the homeowner thousands in unwarranted property taxes. Next, the system’s proprietary Probability Meter predicts the likelihood of a positive lender modification. The step-by-step process offers tips to the homeowner on how best to present one’s financial situation and gives specific details aimed at improving the homeowner’s chances for a successful modification of their loan. The process includes a wealth of guidance and tips, based on the founders’ years of experience in the industry, which aim to dispel the misinformation many have regarding what lenders require to modify a loan. The third step takes a user through the proprietary Hardship Letter Engine which generates a custom letter proven to maximize favorable treatment from the lender. The fourth and final step of the automated system includes the creation of the submission-ready package, complete with checklist of all necessary documents for proof of income and the direct information (or inside fax) needed to reach the proper contact at the user’s specific lender. “When it comes to loan modifications, there are many myths that homeowners believe, or have been told, regarding the process,” explains co-founder, Dave Duncan. “The number one myth is that you have to be delinquent on a loan in order to qualify for a lender modification. This is completely false. Another common misconception that many homeowners have is that they feel they need to understate their income or exaggerate their expenses in order to qualify. This too is false and actually results in a lender nearly always denying the modification. With our proprietary interactive system, we have successfully modified mortgages for many clients who remain current with their mortgage.” For more information, visit www.homeownertoolbox.com.