The term “loan modification” has been getting a lot of attention by homeowners, lenders, the government, and will continue to do so in the foreseeable future. Currently, one quarter of homeowners are behind on their mortgage payments. There are millions of homeowners trapped in adjustable rate mortgages with no options to refinance given that home values are dropping
If you are having problems paying your mortgage, you may be eligible to modify the terms of your existing mortgage. If you are someone who thought refinancing your home would be a good option, then a loan modification is going to be your best option. Loan modifications in many cases are the only way to assist struggling borrowers and save their homes.
Our firm may be able to reduce your interest rate, which can result in a lower monthly payment making your home affordable. Sometimes we can change an adjustable rate mortgage to a fixed rate, reduce principal, stop foreclosure, eliminate or cure arrearages. Our goal is simply to modify your mortgage to make your home affordable.