If you have fallen behind on your mortgage payments, or if your loan has been referred to an attorney, you still have time to save your home. You should act quickly to avoid losing your home. The most important step you can take is to get professional help and see if a Loan Modification is the right solution for you and your family. In this economy many homeowners are struggling.
After careful review of your particular situation, Our company may be able to help you modify your existing home mortgage with your current lender by negotiating new terms on your behalf. Modifications are made when borrowers can no longer make their monthly mortgage payments due to financial hardship or an increase in the loan payment.
Lenders look at a loan modification on a case by case basis. Based on your current financial situation and hardship we are able to negotiate changes of your interest rate, loan term and at times even the principle balance of the mortgage. All resulting in lower and more affordable loan payments, thus enabling you to stay in your home rather than face the hardship of foreclosure. All the while bringing your loan current and saving you money.
Some Common Reasons For Needing a Loan Modification
- You lost your job, were demoted or were required to take a pay cut due to the downsizing of your employer.
- You encountered unexpected personal difficulties such as illness in the family, death of a spouse or divorce.
- Your balloon payment came due and you were unable to make good on your original mortgage terms.
- Your adjustable rate mortgage (ARM) may have reset and the new calculated monthly payments may now be priced beyond your ability to pay.
- You had an interest only, negative amortization or other type of Sub-Prime Mortgage that set you up for failure.
- Your not the only one. Information and Help is available to you
If you delay and fall further behind in your payments, you are likely to have fewer options. Finding a solution that avoids foreclosure is better for you and better for your mortgage lender. Again the lender does not want your home.