Once you realize that you cannot pay your mortgage loan bill for the month (and for the months to come), do not hide from your lender or Mortgage company; ask for Mortgage Modification. Remember that every debtor has the right to ask for a Mortgage Modification.

Mortgage Modification can come in the form of consumer debt consolidation and mortgage refinancing and negotiation.

While Mortgage Modification sounds impossible (since more and more lenders enact “concrete” lending policies), you still can do something to make them change their minds. Remember the following tips if you badly need this process:

When asking for a Mortgage Modification, you need to be smart and wise.

Study your “over-all” financial state. Try to determine how much money you are “acquiring” and how much are you “losing” in your accounts. By doing so, you can cut debt costs.

After doing so, don’t hesitate to ask a nonprofit counseling service or a mortgage assistance company to help you with the analysis. These organizations can also help you negotiate with your lender.

When you contact your lender, tell them the truth. Talk about your current financial state and tell them that you already have an idea about what you need. Tell them the “difficulties” in your situation, and the alternatives you can offer to alleviate those difficulties.

Somehow, submit to them a proposal once they question you about how you propose to pay the loan. If you are sure that your financial problems wouldn’t last long, ask for a postponement of payments. If you think that you would have to endure financial strains for quite a while and you have an adjustable rate mortgage, that’s when you request for a “big-time” loan modification.