A Loan Modification occurs when you need your existing mortgage loan (or loans) changed due to financial hardship.   

Although the end result may be similar, this is not a refinance.  "Loan Mods" keep you with your existing lender. 

It is a very tough negotiation process, but can often create a new loan at a lower interest rate, a loan with a longer duration (to lower your payment), a reduction in principle, or waving of costs.  BE CAREFUL who you talk to though, as this segment of the business is full of sharks!  We are legal and approved.  

Is a loan modification right for you?

If any of the following sound familiar, you may be a good candidate for a loan modification:

• Struggling to make the payments on your existing mortgage?
• Behind in your mortgage, or missed a payment in the last few months?
• At risk of losing your job, or at risk of a temporary pay cut?
• Losing sleep over how to make the payments on your bills?
• Potentially underwater with your mortgage on your home?
• Afraid you might lose your home to foreclosure?

Background

During the last couple of years, lenders have foreclosed on thousands of homes.  Now they have reached the point where they have so many foreclosures on their hands, and so many more pending, they have decided that it is cheaper to modify existing loans, rather than add more properties to their balance sheets.

What does it mean to modify a loan?

When banks modify a loan, they can do it in a variety of ways.  They can do a short term or long term modification (permanent). A short term mod, may be as simple as forgiving the interest on missed payments.  A long term modification may apply to someone that is at risk of losing their job, but may be able to make the payments at a reduced level while working at a reduced income in a new job.  It may also apply to someone who wants to refinance to a lower rate, but cannot because they are underwater.

If you would like a free consultation to see if a Loan Mod is the solution for you, simply click on the "Loan Mod Form" button to the right.  You will be contacted within a 48 hour period once you click the SUBMIT button. 

All conversations will be kept confidential.  Your personal financial situation and information won't be shared.  Your family's future is in good care. 

Click Here to get Started