I have to admit that even I'll concede that there aren't many things that are good about the financial crisis that were in right now. However, and this is a big however, what I see as the silver lining to all of this nonsense is that it's taken the bank's ego down a peg.

Remember 12 months ago? The banks were riding high, credit was easy to get, and just about everyone short of incarcerated criminals was getting a mortgage. Bank presidents and CEOs were pulling down mega bonuses, and getting slaps on the back from the old boy network at the country club.

My, how times have changed. Some of those very same bank presidents and CEOs have been made to eat crow lately. Thanks to all the easy money that they handed out even to people who couldn't prove any income or assets, now some of even the oldest and most respected banks have gone out of business.

The banks are running scared.

Normally, this wouldn't be great news for homeowners. But by some stroke of fate things are so bad for the banks right now that they've had a big helping of humble pie and a ready to talk to little people like us. Imagine that. What this all means for consumers like us, is that now we have an opportunity to go to the bank show them that what they're charging us for our mortgage every month is unreasonable, and get them to change it.

It's called loan modification.

It's not exactly a completely new concept, but it is something that may not have worked all that well up until maybe 6-8 months ago. Today, about 30 million homeowners qualify for a loan modification. But the vast majority of them don't even know it. So let's talk about what loan modification is, how it can help you, and why you'll benefit from years to come thanks to all of this financial fallout.

First, it's important to understand that loan modification is not like mortgage refinancing. in fact, the only thing they have in common is that your loan changes. But that's where the similarities end. With loan modification, what you're doing is permanently changing the terms of your loan. It works with your existing bank or lender, and you can expect to see anywhere from a 10% to a 50% reduction in your mortgage payment when you're successful. You might also find that the bank is willing to reduce the principle that you owe.

So now can you see why I say that even in this crisis there is a silver lining?

The whole point of this is, if the banks were so desperate to keep people out of foreclosure, and to keep as many loans as they can active and in the good pile, then we wouldn't have this opportunity right now.

Things will never be this way again, so it's important to strike while the iron is hot. This means that you shouldn't delay if you even think that you might want to pursue something like a lone modification. Now that doesn't mean I'm suggesting that you should run off half cocked and just submit any old application to your bank and expect them to accept it.

Far from it.

What I do suggest is that you get in touch with somebody who's a professional in this area, and who can go to bat for you, and dramatically increase your chances of getting a loan modification that actually makes a substantial difference in your life.

Now, coming up are a few resources that I highly suggest you take a look at. Remember, even if you're not having tremendous financial problems right now, waiting until it's too late is never a good idea. Your bank is most likely desperate. It's better to approach them now when they are desperate, as opposed to waiting when they are in a better financial situation but you are desperate.

Makes sense doesn't it? Here the resources I recommend you check out. Good luck, and get moving.