Loan Mods

WHAT ARE LOAN MODIFICATIONS?
A Loan Modification is a permanent change in one or more of the terms of a mortgagor’s loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford. This is done without refinancing in order to prevent short sale, deed in lieu of foreclosure or foreclosure. Loan modification is not a new solution, just rarely used. Due to our previous real estate boom, interest rates were low and property values were rising. Allowing borrowers to purchase and refinance that maybe could not have afforded to.
Now that the bubble has burst and going through market correction, those same borrowers are finding themselves in trouble of loosing their home. Loans are adjusting, increasing mortgage payments while home values are declining. There are many situations causing millions of homeowners to fear foreclosure, but we can help keep you in your home. The banks allowed this to happen and our attorneys will fight for you to make them correct it through loan modification.
Our Loss Mitigation Specialists work with your lender  to keep you in your home. Regardless of your situation, we try to get you the best possible modification.

info@stopyourforeclosuresnow.com

LOAN MODIFICATION TIPS
If you are behind on your mortgage your bank will call and discuss your situation with you (along with call you over and over harassing you to pay your past balance). If they decide that you will be able to make your payments in the future, they are going to offer you a short term modification solution. DO NOT TAKE IT!!! Do you really think that your bank is going to offer you a proposal that is designed with your best interest in mind? Of course not! They are going to design a modification so that they can get every penny out of you in the short and long run while still enabling the homeowner to barely survive. Loan modifications were designed by the banks with the intent of minimizing losses, not for the good will of the community. Preventing foreclosure saves banks millions and just so happens to have the side effect of allowing families to keep their homes.

WHAT ROUTE SHOULD I TAKE WHEN LOOKING TO MOD MY HOME LOAN?

There are basically three ways you can address your loan modification needs: Yourself, through a civilian modification service and through an attorney based service(law office). The differences are simple. Most people contact their bank immediately when they start falling behind and getting notice after notice from the bank. Even though the bank is so quick to try to collect your money they are very difficult to get in touch with when it comes to your needs. All your cries seem to fall on deaf ears. A small percentage of borrowers have the ability to successfully modify their loan to the best outcome possible. If the bank does decide to help you it will be very minimal and probably end up causing the same problem to reoccur down the road.