Mortgage loan modification allows homeowners and lenders to change the terms of a loan in order to help the borrower stay in the home and avoid foreclosure. It is important to note that a loan modification is not a new mortgage. A loan modification is the renegotiation of an existing loan.
With a loan modification, it's possible that a homeowner's:
interest rate may be decreased
interest rate can be changed from an adjustable to a fixed rate
time the borrower has to pay the loan back can be lengthened
loan principal may be decreased
late fees may be waived
second mortgage could be waived or wiped off of the books
Who might need a loan modification:
If you have an ARM (Adjustable Rate Mortgage) that is ready or has been adjusted to a higher rate..
If you can no longer afford your monthly payment...
If you have high DTI or LTV...
If you have a high interest rate loan...
If you have been been late on your mortgage payment...
If you have poor credit...
If you have received a notice of default...
If you have financial difficulty:
Job loss
Cut in work hours or overtime hours
Decrease in home value
Illness or injury
Death of a family member
Divorce or separation
Personal tragedy
Every Homeowner’s situation is unique and each Lender has their own policies regarding the use of these programs to stop Forclosure.
Our extensive experience and solid working relationships with Mortgage Lenders allows us to help the you avoid the common pitfalls that many Homeownser’s encounter while trying to work things out directly with their Lender. After performing a thorough assessment of the your personal finances and analyzing the Lender’s Loss Mitigation Policies our professional Loss Mitigators will negotiate with the Lender to get the you the best possible rate. We can help the you save your home and credit history through a variety of Loss Mitigation options. We have a 98% success rate and we have a 100% money back guarantee if we can not Modify the loan.
Call (858)565-6388 or email me to get help with your loan today!
