Helping a Homeowner Succeed with Bank of America/SPS Loan Mod is Like Mardi Gras in June!


I often feel like the homeowners who contact me for help become my friends along the way.  But then, their loans get modified… and I don’t here from them anymore.  In the early days it felt a little weird, but I understood.  Why would anyone want to be reminded of a terrible time in their lives after they no longer needed to think about it anymore?

After six years of this craziness, there have long-since been too many to remember off-hand… or maybe I’ve gotten too old to access more than my limited hard drive can store.  But, the homeowner below who wrote to me a couple of days ago to thank me for helping her get her Bank of America/SPS loan modified, is one that I hope I know forever.  Because Margaret Saizan is simply one of those people that other people refer to as “the bomb.”  



Dear Martin –

There are no words that I could write that can adequately convey my deep appreciation for the powerful work that you are doing in the world on behalf of homeowners in foreclosure and most specifically for the tremendous support you extended to me (and to my family) during one of the (if not THE) darkest, most difficult, in fact terrifying periods of our lives.

When the economy “tanked” in 2008, for the first time in the history of our family owned business,  our business slowed to a near halt. I was reading all the news articles and seeing the advertisements across the web about the “Making Home Affordable” program, and I thought that a loan modification would be a viable solution to relieve some of the pressure and an easy path to relief.

Needless to say five years later, over a dozen mod applications, money wasted on foreclosure “help” that not only didn’t help me but set me back financially, multiple sale dates and two auctions that got stopped only  within minutes of the actual sale,  I was still unable to even get my file sent to underwriting for a review.  The modification process proved to be so esoteric and daunting that what started as merely an attempt to get some short-term relief soon morphed into a long and epic battle to save the family home. .

Then at the darkest hour, dawn came in the form of Martin Andelman and Mandelman Matters and much to my surprise I was finally approved for a loan modification.

There is a quote by Henry David Thoreau that I have always loved:  “if you have built castles in the air your work need not be lost; that is where they should be. Now put the foundations under them.”

The many hours that you spent reassuring and educating me on phone at sometimes odd hours of the night, your knowledge of economics, and your personal knowledge of the intricacies of the foreclosure crisis, not to mention the connections you have forged through your blog and outreach to create a bridge between homeowners and their servicers to the benefit of both, fortified me with hope, knowledge, and the strong foundation I needed to have a successful outcome.

And what’s even more amazing is that it didn’t cost me a dime!  Ironically, I had spent so much money going down dead end roads – but at the end of the day the real help came wrapped as a gift from a person who is truly dedicated to helping homeowners succeed in the modification process.

Martin you are truly one of the (perhaps unsung) cape wearing super heroes of the Foreclosure Crisis. The bridge that you have created between homeowners in foreclosure and the servicers is powerful, effective and actually quite unique.

As a now experienced veteran of the foreclosure crisis myself, I am convinced that there is no one else in the country who is doing what you are doing not just in terms of helping folks navigate the loan mod process to a successful conclusion, but also in terms of providing education, insight, and most importantly the emotional support that kept me sane and made the modification process at least somewhat easier.

I am forever grateful for the support you extended to me and my family during such a difficult time and for your ongoing efforts to help the many homeowners who are still navigating this difficult terrain to this day.

The foreclosure crisis is far from over, but I can at least sleep a little better at night knowing that you are still out there helping homeowners and making a difference

Warm Regards,

Margaret Saizan


Margaret, I hope you’ll stay in touch, and I’m so glad I was able to help.  But, remember… the truth is, although I helped, it was you who got it done.  I knew from the first day you ever contacted me that as long as you could block out the nonsense, you’d be fine… and you were more than fine.

Actually, I’m convinced that you could do anything you wanted to do, and if you ever decide to run for governor of Louisiana, please save me a spot on your campaign team.  I don’t care what I do… for you I’d run for coffee and act as a car pool dummy.  

Thank you for your kind words, I appreciate them more than you could know.  Stay in touch, okay?

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