A mortgage loan modification is a changing of loan terms which are agreed upon by both the mortgage holder as well as the borrower. This can include a change in principal, interest rate, prepayment penalties or just about any other previously defined term. A loan modification can be used to stop foreclosure and avoid bankruptcy.
We’re ready to help craft a specialized mortgage modification plan to help alleviate your loan worries. If you're behind on payments or unable to meet upcoming ones our team of trained mortgage professionals are ready to go over your current mortgage terms and, if possible, propose a plan of action to reasonably modify them.
As the market continues to struggle more and more homeowners are turning to loan modifications as a way to bring stability into their situations. Renegotiating the terms of your original loan can be in the best interest of both you and your lender. It's now easier to lower your monthly payments, decrease your interest rate or even reduce your over all loan amount. These benefits and more and all great reasons to modify today.
Applying for a Loan Modification is quick and easy. Within a few minutes you can be well on your way to redefining your mortgage terms and ultimately keeping your home. Please speak with any of our Mortgage Loan Modification specialists today for answers to your questions.