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New site assists in loan modifications

One of the newest tools to hit the market,, provides a quick and free online program to help you see if you qualify for a loan modification. With no commitments, the website aims to simplify a complex and difficult process, offering tips and warnings on a user-by-user basis.

“The loan modification process is normally cumbersome and time consuming," says Dave Galanter, a Manhattan real estate lawyer and president of the site. "Our software helps you be right the first time when you answer a question — increasing the chances that your loan modification will go through the banking system quickly."

Other bells and whistles include the ability to scan and upload documents on the website “dashboard.” This way if the bank calls you at work requesting a tax form that you know you submitted, you can quickly resend it. You’ll also be helped to prepare the wording of a hardship letter, one of the keys of a loan modification.

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