Welcome to Force Your Lender to Modify

Homeowners, Whose Homes Are in Foreclosure, Help Each Other by Entering Into Lease Agreements;  

but, neither homeowner moves out of their home unless it is sold at trustee's sale.

ForceYourLenderToModify.com, is a new free service that will aid thousands of families, who are in jeopardy of losing their homes by forcing lenders to decide between becoming landlords or modifying mortgages.

This new website enables homeowners facing foreclosure to enter into long-term leases with other homeowners facing foreclosure living near them. Upon execution, homeowners send a copy of the lease to their lenders to notify them of their obligation to disclose to prospective buyers that a long-term lease encumbers the property. Buyers at trustee sales will not buy homes if they’re encumbered with a five year lease. If the home doesn’t sell, the banks only choice is to buy the home themselves and become a landlord. Banks don't want to be landlords because the risk of being sued is too great.

Since banks don’t want to be landlords, their best option is to modify the loan for the homeowner. And, Homeowners can then cancel the lease if a modification occurs so homeowners don't move out of their home unless the home is sold at trustee's sale.

This plan creates amazing leverage for homeowners with their lenders because under President Obama’s Helping Families Save Their Homes Act, if the lease is entered into before complete title to the property is transferred, the bank has to choose between cancelling the trustee sale and modifying the loan or owning a home that can't sell because of the existance of a long-term lease encumbering the property.

Upon registering with Home Lease Exchange each registrant is provided with a free personalized Home Lease Exchange package that consists of a lease Agreement and three letters.  All three letters are written with the registrant's letterhead as its header.

The first letter notifies the registrant's bank that they've entered into a long-term lease agreement for their home but that they will cancel the Agreement if the bank modifies their loan. The second letter is sent to the trustee who is responsible for selling the registrant's home at trustee's sale.  That letter notifies the trustee that they have an obligation to disclose to every potential buyer of the registrant's home that a long-term lease encumbers the home.  The third letter notifies prospective buyers of the terms of the five (5) year lease Agreement.

If the registrant chooses to self represent rather than retain attorney representation for $99.00, the registrant sends the letter to both the bank and trustee with a copy of the lease.  If the registrant chooses attorney representation the attorney sends the letters on the attorney's letterhead to the legal department of the registrant's bank and the trustee.  The registrant then contacts their lender to see if the trustee's sale has been cancelled and if reconsideration of loan modification is a possibility. 

 Home Lease Exchange has been successful for 90% of homeowners who created leverage with their lenders and saved their homes from foreclosure.