Loan Modification Negotiation

Loan Modifications

If you have already defaulted on a mortgage or think you will soon, a loan modification can adjust the terms of your loan and save you from residential foreclosure.  A loan modification requires negotiation before any agreement can be reached.  Our professionals can help you understand the terms of the modification and can advise you on how to proceed.  We have extensive experience in obtaining modifications from lenders and working with federal loan modification programs.

If you are considering a loan modification, you may want knowledgeable professionals on your side who have successfully obtained loan modifications in the past. You will receive much needed advice as you turn in your application and go through the loan modification process.  We assist with the paperwork and do  everything that we can do to negotiate favorable terms.

A wide variety of laws and regulations apply to residential lending.  These rules determine what fees can and can’t be included, what interest rates can be charged, and what types of information and disclosures are mandated for residential borrowers.  We want to provide you with up-to-date information so that you can understand your legal options.  Once you are aware of your rights, we will help you to pursue a course of action that is reflective of your individual needs.

Q:  How do I Qualify for Assistance?

A:  Borrowers need to prove that they are experiencing a substantial financial hardship.

Q:  What is a Hardship?

A:  A hardship is a situation that has a life changing effect for the borrower that results in an inability to pay the mortgage debt in either the short or long-term.

Some examples are:

  • Separation or Divorce
  • Medical Bills
  • Inability to Work due to Health Reasons
  • Death of Spouse
  • Job Relocation
  • Reduced Income or Unemployment
  • Business Failure
A loan modification will change your existing mortgage note and give you a fresh start.  Your account will be brought up to date as soon as the terms of the modification are negotiated.  We will negotiate a reduction in monthly mortgage payments by reducing interest rates, expanding the length of the loan, amortizing a  lower principal balance, as well as many other options.

Loan Modification FAQs