Zack Childress Real Estate Advantages and Disadvantages of Home Loan Modifications

Zack Childress Real Estate Advantages and Disadvantages of Home Loan Modifications

You might be applying for a home loan modification.  You have to make out the advantages and disadvantages of the home loan modification before the application is handed over.

The main objective of home loan modification is to make the homeowners reside in their property. This is done by carrying out some modifications in terms of mortgage terms and payments.

Several borrowers are asking for home loan modification so as to make mortgage payments within their reach and to get away from foreclosure. Certain aspects include that you have to show a proof that the present payment is not affordable but a lesser payment is affordable.

The home loan modification can be fruitful for homeowners and lenders alike.  The home loan modification comes to the aid when the homeowners require avoiding foreclosure.

 Also, loan modification is a well-known solution to attain lesser payment of mortgage in a monthly basis.  So as to be deemed for the home loan modification, homeowners need to adhere to all of the qualifications that are put forth by the lender.  Loan modification may prove to be a puzzle for many homeowners.

Having said that there are the plus points and minus points in home loan modification.

Advantages of Home Loan Modification

  • One of the best methods is to stretch over the payment terms. Here the interest or the principal remains the same.
  • Short-term strategies are considered in certain instances by lenders; they decide to decrease the mortgage’s interest rate. This will be of great assistance to a property owner during financial problems.
  • Home Loan Modifications makes way for money to clear other debts including auto loans, education loans etc.

The disadvantages of Home Loan Modification

  • Home loan modifications are sometimes very puzzling also due to the plethora of terminologies in the paperwork involved.
  • There is a big hassle to borrowers when it comes to the modifications of the home loans. It comes in the form of lengthy delays and it demands some time to acquire replies from the mortgage lenders and servicers. It can be really frustrating sometimes.
  • The sordid truth in spite of the benefits in home loan modifications is that one cannot evade foreclosure. As a matter of fact, the homeowners are evicted when they are waiting for some answer from the lender.
  • Home loan modification can be tiring also because it doesn’t restrict itself to only one approach.
  • When it comes to home loan modification, the borrowers are left with only a single chance. Not capturing the idea can put the homeowners in a quagmire.  Before applying for a home loan modification, an expert has to be consulted.  It is not a bed of roses with respect to home loan modification in all cases.

Zack Childress, the proprietor of REI Success Academy, is the actual creator of the co-wholesaling real estate investing system.  The REI Success Academy works towards getting the best result when you put in time and efforts for the real estate deal.








How to Choose the Best Time of the Year to Sell Your Home? – Guidelines by Zack Childress



While you can list your home at any time of the year as long as you price it properly and stage it well, there are certain times of the year in which your home gets bid easily for the asking price. So, you have to decide the best time of the year to sell your home. Zack Childress, a real estate guru, gives tips on choosing the best time to sell your home. Progress through this essay to find out.

Spring –great time to sell

Spring is the best time of the year to sell because

  • Spring has longer days and hence there is more time to show the house

  • This is the time when most buyers have got their tax refunds and are ready to meet house buying payments

  • In spring, houses don’t sit for a long time in the market.

  • Houses sell for the asking price easily in spring

  • Spring is the time of the year when most people want to settle down. Nobody prefers movement during the hot summer or the snowy winter

  • It avoids changing schools in the middle of the year for kids and shows the landscapes and gardens best

However in spring, there will be lots of competition as almost everyone wants to sell during this season. So, if there are similar houses in the listings, it becomes a major challenge. To tackle such woes, make the best staging efforts for your home.

Types of real estate property investment – Zack Childress

Time off months (mid January to mid December) –the worst time to sell

Don’t consider selling in the holidays. The following are the arguments for this.

  • People will be too busy in their vacations and will not think about even venturing into a buying deal.

  • If you list during this time, people think that you are too desperate to sell.

  • Also this is the season for travelling, so few buyers will be around to see your home.

  • Your house will be listed longer and thus end up becoming unappealing to prospective buyers

January and February – good time to sell


In spite of being winter months, these months are good to sell. Many buyers are there to view your home and the market is bubbling too. Areas in Toronto show an enormous amount of sales in this period.

Autumn – fine selling periods

The months of autumn are also fairly good to sell. This is not a holiday season and depending on your area of living you may have a moderately good climate.

Summer- the wrong choice

Don’t proceed to sell in the summer months since,

  • Summer months are also holiday months. After being constrained all throughout the winter, summer months are very good for holidaying. Your prospective buyers are probably having a gala time in their cocktail parties.

  • A lot less movement on your listing is seen in the summer


By reading these guidelines given by the real estate expert – Zack Childress, you can easily decide on the best time to sell your home.