Mortgage Loan Modification
What is
loan modification?
Loan modification is when you and
your existing lender agree to change the terms of the your
original loan.
Why would
the banks want to renegotiate?
The banks would rather
change the terms of the loan to a payment that you can afford than take the
property through foreclosure.
Do I qualify for
a loan modification?
There are many factors that
determine on what basis a lender will modify a loan. Equity, income, payment
history, debt ratio and many other factors. An experienced loss
mitigation consultant can guide you as to the best approach to
take. Every case is
different.
What does it
cost?
Fees vary among loss mitigation companies but are generally
equal to about one mortgage payment.
Can I do it
myself?
You can negotiate on your own but you are more
likely to get a better deal if you have a professional negotiator
on your side. The bank is unlikely to offer you the best possible deal. Professional
loss mitigators have existing relationships with most lenders and know
how to get to the decision
makers.
How do I get
started?
Fill in the short
form to get a fast free consultation from an experienced loss
mitigation specialist.
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Free loan
modification consultation request form.
We are here to help. Fill in
the short form below for a free consultation with an experienced
loss mitigation consultant.
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