What is a Loan Modification? 

A loan modification is simply an agreement between a homeowner and a lender to renegotiate the original terms of the mortgage loan. 
 
Generally structured as a long-term solution for a borrower who is unable to continue making their mortgage payments on a personal, investment or commercial property, a loan modification can include the following.

• Reduction in interest rates
• Principle reduction
• Lengthened loan term
• Payment holidays
• Changing an adjustable rate to a fixed-rate mortgage
• Elimination of late fees and penalties
• Elimination of past due balances
• Stopping foreclosure proceedings

With the rapid decrease in property values, loss of jobs and other factors that have resulted in 1 in 10 homeowners being behind on their payments, loan modifications are the preferred by banks who are faced with the decision to either foreclose on a property or find an affordable solution that will keep borrowers in their homes.  
 
Unfortunately, mortgage service providers are understaffed and not prepared to handle each situation with the special care and attention each borrower requires.   
 
With some mortgage servicing departments assigning upwards of 800 files per loss mitigation employee, it is obvious that a third party legal loan modification solution is necessary to help keep home owners out of foreclosure.

No upfront fees are required to evaluate your current mortgage. If you feel a loan modification may be the right solution for you, give us a call or fill out the Pre-Qualification form at the top of this page.

We will give you what you need to negotiate a modification on your own or consider your case on contingency.

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See if you qualify for a guaranteed mortgage modification by answering a few simple questions on our Pre-Qualification form at the top of this page.