New Automated Loan Modification Technology Launches Today for $99 - to the Relief of Millions of Homeowners Who Can No Longer Wait for Help

Homeowner Toolbox is the first of its kind to offer an affordable alternative to
hiring expensive loan modification consultants
IRVINE, Calif.--(Business Wire)--
Homeowner Toolbox Inc. (www.myhomeownertoolbox.com) today launched a service
which offers an automated loan modification solution for consumers that is
priced at just $99. The company, founded by financial experts who wanted to
offer proven modification techniques in a self-guided, automated process, was
created to make loan modifications accessible to all homeowners at a price that
wouldn`t contribute to their financial difficulties. Unlike other modification
solutions that cost thousands, Homeowner Toolbox offers a detailed financial
evaluation with tailored guidance on how best to present a modification package
to a lender for maximum results, for a fraction of the price. The homeowner is
then provided with a print-ready/submission-ready package that can be sent
directly to the lender, direct from the homeowner. Homeowners, who want to take
advantage of this low price but are currently engaged with other loan modifier
programs they are unhappy with, can also use the Homeowner Toolbox service to
try and recoup any monies paid with a click of a button.

"We are excited to offer people a solution that is not only affordable, but one
that truly works," said Andy Firoved, co-founder of Homeowner Toolbox Inc. "By
automating the process with our modification experience and giving homeowners
the tools they need to work directly with their lender, we have been able to cut
the cost of the modification procedure and put the power of that process
directly into the homeowner`s hands."

Using the Web-based tool, homeowners are virtually guided through the
modification process where they identify their current lender and then proceed
to a Financial Worksheet, (a required lender document), that details monthly
expenses and specific mortgage information. The system will even provide a free
statistical evaluation of the lender`s home compared to their current property
tax assessment; this alone could save the homeowner thousands in unwarranted
property taxes. Next, the system`s proprietary Probability Meter predicts the
likelihood of a positive lender modification. The step-by-step process offers
tips to the homeowner on how best to present one`s financial situation and gives
specific details aimed at improving the homeowner`s chances for a successful
modification of their loan. The process includes a wealth of guidance and tips,
based on the founders` years of experience in the industry, which aim to dispel
the misinformation many have regarding what lenders require to modify a loan.
The third step takes a user through the proprietary Hardship Letter Engine which
generates a custom letter proven to maximize favorable treatment from the
lender. The fourth and final step of the automated system includes the creation
of the submission-ready package, complete with checklist of all necessary
documents for proof of income and the direct information (or inside fax) needed
to reach the proper contact at the user`s specific lender.

"When it comes to loan modifications, there are many myths that homeowners
believe, or have been told, regarding the process," explains co-founder, Dave
Duncan. "The number one myth is that you have to be delinquent on a loan in
order to qualify for a lender modification. This is completely false. Another
common misconception that many homeowners have is that they feel they need to
understate their income or exaggerate their expenses in order to qualify. This
too is false and actually results in a lender nearly always denying the
modification. With our proprietary interactive system, we have successfully
modified mortgages for many clients who remain current with their mortgage."

Homeowner Toolbox offers users additional debt relief tools that are available
for free (and premium services offered at a discount) to members. For additional
information, homeowners can visit the Web site at: www.homeownertoolbox.com.

About Homeowner Toolbox

Homeowner Toolbox, Inc. is a lifeline for homeowners looking for mortgage
relief. The company, founded by experienced financial executives, offers a
proven, and finallyaffordable, alternative to hiring costly loan modification
consultants. Instead of spending thousands with someone over the phone to help
"fix" a mortgage, Homeowner Toolbox has created a self-guided tool, complete
with a Probability Meter, which offers a step-by-step solution through the loan
modification process and puts a submission-ready package into the user`s hands -
all for an introductory price of $99. By automating the service with interactive
Web technology, the creators of Homeowner Toolbox have been able to bring the
price of the service to a level that everyone can afford. For a fraction of the
price currently offered by other modification services, Homeowner Toolbox offers
a detailed financial evaluation, with tailored guidance on how best to present a
modification package to a lender for maximum results. Those interested in
additional information can visit www.myhomeownertoolbox.com.

RMS Public Relations- www.rms-biz.com (for Homeowner Toolbox)
Jason Kirshner / Shana Starr
949.579.9569 x 801/802
Jason-PR@RMS-Biz.com / Shana-PR@RMS-Biz.com

Copyright Business Wire 2009