Yorba Linda, California (PressExposure) April 18, 2011 -- New powerful tool to help save home from foreclosure was recently launched and introduced to homeowners who are in the process of obtaining a successful loan modification and other debt related issues to equip themselves before they present their applications to the lender.
The new tool, called REST report, evaluates borrower as to whether they pass or do not pass the Net Present Value (NPV) Test before they have gone through the long uncertain process of applying for help. It is a version of the same software used by major banks and servicer to determine if you qualify for a foreclosure prevention government assistance plan. This software was developed in concert with the U.S. Treasury Department's guidelines for use by lenders and servicers when determining loan modification approval or denial.
Net Present Value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows. Lenders have been using these secretive NPV tests with increasing regularity and they are likely playing a role in unnecessary foreclosures.
Your REST Report will show the (NPV) Net Present Value of various Government Loan Modification Programs, along with interest rates, monthly payments, and loan terms. The REST loan disposition and analysis system runs proprietary algorithms, NPV analytics, and accesses numerous property valuation databases.
"Homeowners can now use REST Report to assess workout options and represent financial outcomes resulting from a variety of modification and foreclosure scenarios. Prior to the availability of REST Reports, lenders held all the cards in the negotiation of mortgage terms. Homeowners can now engage in a modification process with as much information as their lenders, giving them a much better chance at a positive outcome," Todd Alexander, the consumer debt advocate of Rest Report said.
"We are now empowering our homeowners take control of their mortgage issues. We are providing them knowledge regarding the future of their home loan so they can take action before they lose their precious home. They can take action before it's too late," Alexander added.
The REST Report runs the most up to date NPV analytics as required by the United States Department of Treasury, and it is built on the same platform lender uses to determine homeowner's eligibility. It also compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account.
Alexander also shared that what most borrowers do not understand is that a loan modification is more than just a simple adjustment to the loan which makes the payments affordable; it is a complicated financial analysis for the lender and the servicer. All loan modification must pass many variables in order to be approved by the lender and qualify for government incentives. It is complicated and convoluted but the REST Report helps you get your answers.
To know more of what REST Report can offer, visit their website now at http://restreport.com or call 1-888-543-4340 for free consultation.