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Find out your options form an Attorney backed expert who knows how to negotiate with your lender to:
- Cut your interest rate
- Lower your monthly payment
- Renegotiate your principal payment
- Eliminate late fees
What is a Loan Modification? That is where you and your lender agree to modify one or more of the terms of your home loan. The terms could be a lower interest rate, an extension of the length of the loan (like making a 30 year loan into a 40 year loan), a conversion of an adjustable rate loan (called an ARM) to a fixed rate, the deferring of some of your payments, or any other modification of loan terms. The goal of a Loan Modification is to help you keep your home and to give you a real, meaningful, sustainable, and long-term adjustment to your current home loan that works for your financial situation.
Why Should I Contact Homeowners Advocates? You should try to begin the loan modification process as soon as possible. If you have one or more of the following situations:
- Unable to Refinance
- Can’t afford payments
- Have a Hardship
- Late on Mortgage Payments
- Suspect Fraud on your Loan
- Have Adjustable Rate