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| How a loan modification can help you stay in your home |
| A loan modification is an excellent solution for borrowers who would like to stay in their homes. A loan modification restructures and modifies the terms of the existing mortgage loan and provides the borrowers with a fresh start in managing their home. Loan modifications typically involve a reduction of interest rate on the loan and/or an extension of the length of the term of the loan. A lender is more likely to be open to modifying a loan since the cost of foreclosure is much more expensive. |
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| Why use an attorney for a loan modification when you can do it yourself? |
Although a homeowner can contact their lender to process their own loan modification, an overwhelming majority of homeowners who try a loan modification on their own, are unsuccessful. The process is very detailed and most lenders do not have your best interests at heart. They want you to pay as much interest as you possibly can over the term of your loan. Think of it this way, you can take your car to a mechanic and get your transmission fixed correctly and safely or you can sit in the driveway and try and fix it yourself and hope it works out. We use our experience along with our lender contacts to help our clients modify the terms of their existing mortgages fast and efficiently.
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| Ideal candidate for a loan modification |
- Loan adjusted or is about to adjust
- Home is worth less than amount owed
- Late on mortgage payments
- Negative amortized loan
- Cannot qualify for a refinance
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Get the process started today!
Pre-Qualification Form |
