What is a Loan Modification?

This term is used when your lender modifies your current mortgage (same loan you have, only changes are made to the note) in order to work with you and make your mortgage more affordable. A modification to your rate, balance of loan, delinquent fees owed, term of loan etc. can be made by the Lender. In the past this was only used when a borrower was delinquent but now we see it being used before someone is delinquent. This is a great option to help people avoid foreclosure.

Are Lenders really willing to negotiate?

Yes, Lenders are willing to negotiate when borrowers are facing financial difficulties and can't obtain other financing alternatives. We show the lender why it would be in the lender's best interest to agree to a workout arrangement in the form of a Loan Modification with you. In turn, the lender will reduce the loan interest rate, reduce monthly payment amounts or change other loan terms to allow for an affordable loan to allow the homeowners to avoid foreclosure.

What do you do?

We bring the two parties of the problem loan together to mutually agree to a workout that creates new and better loan terms that are affordable and realistic. The hope is that the new loan will enable the borrower(s) to meet their obligations. And with our detailed personalized financial analysis, this hope becomes a reality. Our clients accept the loan that is affordable to them, and never need worry about foreclosure again.

Why should I work with you and not somebody else?

Great question. There are some really good firms out there but, there are also some predatory rogues. We are FULL DISCLOSURE on the front end and one of the only firms that offers you a money back guarantee if we are not successful. We also have an incredible and experienced team that will work on your behalf. Also, our fees are well below what most of the other firms are charging out there. Finally, we keep it simple. Our only business is Loan Modification. We will not try to bait and switch you into some other program that may or may not be in your best interest!

Can't I do this myself? Why should I pay someone else to do this for me?

Of course you can negotiate with your mortgage company yourself. Just as some people act as their own accountants or legal representation, some people are knowledgeable enough about mortgage delinquency that they are comfortable negotiating with their mortgage company

However, for others, phrases like "partial claim", "loan modification" and "special forbearance" are intimidating and confusing terms. People in this category may find dealing with their mortgage company to be a dehumanizing experience as they are shuffled along the assembly line-like process, never sure if the representative they are talking to is truly looking out for their best interests or merely trying to meet their quotas while attempting to keep their talk time low.

We don’t offer any service to you that you cannot technically perform for yourself. Then why pay us to represent you? There are many reasons we could provide but perhaps an example would be more effective:

When you are on the phone with your mortgage company and they tell you there is nothing that can be done for you, how do you know if this is the truth or if it is simply what the representative chooses to tell you as a result of their inexperience or apathy? These representatives aren't sitting in an office of their own, thinking about what a great career they have. The mortgage company representatives you will deal with work in call centers- a low-paying, high-turnover field of employment. Our negotiators have more experience in mortgage retention than most any of these representatives, do you?

How many financial transactions are as important to the average person as their home? Much like in any important matter, having the proper guidance and representation can make all the difference in the world. It can save you time, trouble and money.

Does my mortgage company want to foreclose on my property and take my house?

Absolutely not. When a mortgage company forecloses on a property, they almost invariably lose money. They lose even more if they are forced to take ownership of the property. Because of the mortgage company's as well as the investor's likely losses on foreclosed properties, there are wonderful ways to either avoid going into foreclosure or to get out of it. This is the good news.

The bad news is that you are really nothing more than a loan number (usually one of millions) to your mortgage company. While not trying to insult your mortgage company, they don't need or want to specifically help you. They simply need to ensure that they meet their numbers. While it may be encouraging to know that their financial interests lie in keeping you out of foreclosure, you should also realize that mortgage companies are some of the largest owners of real estate in the world. This is directly attributable to the sheer number of properties they assume after the foreclosure sale

What are "hardships" and do I qualify?

Here is an example list of hardships that lenders consider during the loan workout process:

Adjustable Rate Mortgage Reset- Payment Stop (uncommon, but we will see more lenders accept this in the future) Illness, Loss of Job, Reduced Income, Failed Business, Job Relocation, Death of Spouse,  Borrower Death, Incarceration, Divorce, Marital Separation, Military Duty, Medical Bills, Damage to Property (natural disaster or unnatural).