 
Loan Modification is part of our 15 Steps to
Foreclosure Prevention and in some cases Present and Post Foreclosure.
First we always start with a free consultation during which we discover and explain the homeowner’s objectives and needs. It is our goal to have you well informed about your situation and all your potential options.
Different types of Modifications you may qualify for include:
- Reduction of the interest rate
- Extension of the Loan Payment Period
- Reamortization with Capitalization of Arrears
- Relief of Arrears and Penalties
- Relief of 2nd Lien
- Reduction of the Principal Balance
As well as Modifications there are also:
- Deed in Lieu of Foreclosure – which stops the Foreclosure process and relieves the consumer to the obligations of the Mortgage.
- Preforeclosure Sales/ Short Sales – this is where the bank agrees to permit you to sell your property for less than you owe without being responsible to repay the difference.
- Assumptions – transfers the responsibility of the mortgage to a third party who is in a better position to deal with it.
- Variable Workout Options – due to the present state of Workouts and Modifications there are many components that can be used interchangeably to achieve a hybrid Workout that will best suit your personal situation.
Recognizing the Abusive side of Mortgage Lending:
In some situations it may be evident that payments have been misapplied or have resulted in errors in calculation. We are able to locate these and in most cases use them to your benefit in achieving a workout without litigation.
We also counsel the homeowner about foreclosure related scams. Unfortunately there are people who will attempt to take advantage of a homeowner in a vulnerable situation. We understand the stress of your situation and how difficult it can be to make such important decisions when the clock is ticking. We do our best to provide you with all the information so you will never leave our offices confused.
Request A Free Consultation Today. We're Here To Help You.
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