Loan Modification is a special program that your lender
agreed to participated in to prevent foreclosures and remedy
some of the defaults. In most cases, a loan modification is
like getting another mortgage or a loan for the house.
Your lender will require you to submit a new application,
including your income and employment verification, run your
credit, appraise your house and conduct their loan
underwriting process. In a nutshell to qualify for loan modification lenders are most strongly considering:
Loan Modification will extend the term of your mortgage, roll-in your past-due payments and fees into the new payment, and, in most cases, reduce the interest rate to a current market rate.
Loan modifications are allowed only a limited number of times (normally only once) in the loan life-time. Modifications can be pursued while the debtor is in the Chapter 13 Bankruptcy. However, the modification must be successful before the plan confirmation hearing.
We can help you with your loan modifications.
Free Initial Consultation to review your case's particulars and propose a specific solution.
We will communicate with your lender and assist with submitting an application and required supporting documents.
We will negotiate the best possible deal for you.