Yes, that’s right, getting a loan modification approved is a team effort. Typically, I get a call from one of the heads of a household inquiring about a loan modification. They ask all of the questions and give information as to the hardship that led to their financial stress. This individual lets me know that they have a husband or wife or partner as well and they need to talk with them before they decide what to do.

Before you even make a call to a loan modification company or your lender for that matter, you and your family need to be on the same page. It cannot just be one person making the phone call, talking to the companies and getting the paperwork together. The workload has to be shared because this is a very important matter. Not only do you want to save your home but you also are trying to relieve the financial stress in your life. For most people, their home is their largest investment and hopefully will serve as a means to retirement one day. Don’t you think you should share the responsibility of trying to keep it with the ones you love? Some people don’t share their house with someone or they may be a single parent trying to deal with the burden of saving their home. Whatever the case, don’t go it alone.

Homeowners going through financial hardship often let pride and ego get in the way of seeking help. As I often tell my clients going through tough times, you are in the majority  and there are a lot of people going through similar circumstances these days. If everyone had someone to lean on in times of trouble, it would make the load we have to carry a little lighter. Don’t let embarrassment or shame get in the way of talking to someone. If you have a pre-teen child or older, you can talk to them. Parents spend so much time trying to shield their children from potentially bad news and yet the children are smart enough to know what’s going on. Your kids know when you are stressed out and it just worries them more. If you talk to them, most of our children would want to help because it would mean they are helping relieve you of some of your burden.

In closing, don’t try to be the brave soul going through tough times on your own. Talk to your loved ones about the different options available and you can even assign tasks to your partner or family member so you each share the responsibility. Communication and teamwork are the keys to most successful endeavors and its no different when it comes to saving your home.