Irvine, California-based Homeowner Toolbox Inc. is helping homeowners wade through the complexities of the loan modification process and showing them how to avoid the roadblocks that prevent consumers from getting a modification.
Based on its work with borrowers who have already been told “no” by their servicers, Homeowner Toolbox estimates 80 percent of loan mod applications get turned down. The company says most homeowners are unaware that they can be denied a workout for being off by just $10 from, what the company calls, the lender’s unique “sweet spot.”

Andy Firoved, CEO of Homeowner Toolbox, explained, “Currently only 20 percent of loan modifications are being approved. Consumers often feel they have to exaggerate their financial hardship or be delinquent on payments in order to qualify for a modification. This is absolutely false, and we have the successful modifications to prove it.”
Homeowner Toolbox has introduced a proprietary tool called the Probability Meter to help facilitate successful modifications. The company says the meter accurately predicts the likelihood of a positive lender modification, moving up or down in real-time depending on the data the borrower enters into an online Financial Worksheet, a central requirement of any loan modification package. The company says its Probability Meter is lender-specific and helps a homeowner zero-in on their lender’s target disposable income amount.
According to Homeowner Toolbox, the tool shows that it is possible for a homeowner to obtain a modification even without being delinquent – a point the company says is a widespread misconception.
Homeowner Toolbox’s financial evaluation is available to homeowners at a fraction of the price of other modification solutions or consultants – only $99. The homeowner is also provided with a print-ready, submission-ready package that can be sent directly to their lender to help speed the process and ensure documentation accuracy.