|
Loan Modifications
Confused about loan modifications? We've provided information below about the process, and how we can help you save your home.
How do we get the BEST results?
We combine two ares of expertise, the most knowledgeable mortgage company around teaming with a specialized attorney firm in the loan modification business of negotiating. We first determine whether you can even get a modification (100% free). IF you qualify for the program, we package your documents in a way that most others do not know how to do. We send this specially prepared set of documents to our attorney firm who goes to work by contacting and negotiating with your lender/s. It's a winning combination that has produced outstanding results!
What is a Loan Modification?
A "Loan Mod" is the re-negotiation of your current mortgage/s with your current lender/s, it is not a traditional refinance. Qualification and processing is completely different and the process requires experienced negotiation and expertise on your side.
Who Qualifies?
Not everyone qualifies, you must have had a financial hardship causing you to fall behind, this could include temporary unemployment, health issues causing income loss, interest-rate adjustments, or others. You must also be able to afford the newly modified, lower monthly payment and you will need to prove this with documentation.
Credit and Negative Equity do not matter:
Unlike traditional bank requirements, credit score and loan / equity ratios are not important.
Do I have to be late to obtain a modification?
Despite popular belief, you do NOT have to be late to get a loan mod., but you do have to prove that you are barely getting by financially with your current monthly payments compared to your income. Many people are able to qualify because they can prove that they have had to use all of their reserve assets to subsidize mortgage payments.
Is there a fee?
There is a fee for this service, you will need to contact us for a free consultation regarding your specific situation. It is typically much cheaper than a refinance.
"Can't I just Do This Myself?"
You can try, but it is almost impossible to get results without attorney representation and the knowhow of the process. It is like going to court without a lawyer.... You CAN but I would never advise it. We have countless stories of clients who have tried themselves and either failed completely or obtained much less of a reduction then they did when our services were utilized. Could you imagine having the IRS DO YOUR TAXES?.... that's the equivalent of having your lender modify your loan.
By pre-approving your file before it is submitted for underwriting by the lender, we can have a lot more confidence for a successful modification.
|