Who Can Legally Assist You in a Loan Modification?

There are only two types of companies that can legally assist you in your loan modification, one is an Attorney based company and the other is a Real Estate lending company that is registered with and approved by the Dept. of Real Estate to process Loan Modifications.

Loan modifications have a number of factors that need consideration:

• Do you have a loss of income?

• Do you have a loss of equity in your home?

• Are you current with your payments but falling behind on other bills
or borrowing from your savings, your 401K or from your family
and friends to keep these payments current?

• Are you behind in your mortgage payments?

• Are you in default and about to be foreclosed upon?

• Have you filed bankruptcy and are about to be discharged?

• Do you have an adjustable rate payment that keeps adjusting?

If you answered YES to any of these questions, you should consider a loan modification.

Hardships that lenders also take into consideration for a loan modification would be:

• Adjustable mortgage rate that keeps adjusting upwards

• Job loss or relocation

• Business failure due to this declining economy

• Divorce, separation or Military duty

• Property damage due to natural or un-natural disaster

• Receiving recent disability and unable to work due to sickness or an accident

Loan Modifications differ from refinances. Loan Modifications do NOT start your loan over and if you have 25 years left on your loan, you still have 25 years left on your loan. Loan Modifications are NOT based on CREDIT SCORES and refinances are determined by your credit score. You can OWE MORE than what your property is worth and still get your loan modified and the costs are considerably LESS. A REFINANCE can cost $5000 to $10000 and a Loan Modification is $3000. THIS SAVINGS IS SUBSTANTIAL.

Several programs are available for you to consider. If you are current with your mortgage and have not been more than 30 days late on your mortgage payment in the past 12 months, you could qualify for the HARP program which has a lending limit of $729,750 and will modify up to 105% of your present value. This program is for loans originated prior to January 1, 2009.This modification helps people that are current on their payments and this program is based on 31% to 38% of your present income.

If you are behind in your payments or have a notice of Default filed against your home, DO NOT HESITATE. We can help you get the loan modification, but time is of the essence.

If you have spent months trying to do this loan modification yourself, please call us to assist you. 90% of my clients have spent months trying to do their loan modification themselves, with no success. So let us help you, this is our SPECIALTY.

Instances that disqualify a Borrower from a loan modification would be as follows:

• No Income at all coming in for the household

• No way to verify a job or monies received such as no Bank account

• Your sole hardship is too high a credit card debt

• no loss of income and the only hardship is loss of equity

• have NOT had the loan for a LEAST ONE YEAR.

• your loan is with a Credit union

PLEASE CONTACT US AT 888-205-7070, YOUR LOAN CONSULTATION IS FREE.