Home Loan Modification Frequently Asked Questions

Can we qualify for a loan modification even though we have been turned down for refinancing and are behind in our payments?

The short answer is yes you can. A loan modification is not the same as refinancing. What we do is renegotiate the terms of your loan. We restructure things like the interest rate and payment terms, saving you hundreds of dollars each month.

Can I get a loan modification even if I have an adjustable rate mortgage?

Our loan modification program can be extremely beneficial for those with adjustable rate mortgages. If your mortgage has gone up or is about to go up, it is likely that you will qualify for a loan modification. You can easily stave off financial difficulties by acting before your loan resets.

What happens to my foreclosure during the loan modification process?

Once the loan modification begins; all of the home foreclosure proceedings are put on hold during the review process. One the loan modification is finalized, all foreclosure proceeding stop.

Can negotiate a loan modification with my lender on my own?

You could but I would not recommend it. There is a legal process involved with loan modifications. Most mortgage companies are either not equipped or willing to negotiate with their customers. Mortgage companies are in the business to make money. They generally do not see the benefit of renegotiating the terms of your mortgage.

Our legal team deals with loan modifications every day. We have a tremendous amount of experience dealing with lenders, the law and an ever changing financial landscape. We understand your rights as a homeowner and we can create an environment to effectively negotiate with lenders and get them to understand the benefits of modifying your loan and keeping you in your house.

What is the difference between a loan modification and debt consolidation?

Generally with debt consolidation, all of your unsecured debt such as credit cards, car loans and other personal loans are added to your mortgage. While this may save you money on your monthly expenses, it usually ends up costing you much more in the long run.

What is the difference between a loan modification and refinancing?

The up front costs of getting your home refinance can be very expensive. A home refinance usually requires a down payment along with appraisal and inspection fees. Getting refinanced if you are already facing foreclosure can be extremely challenging if not impossible.

Where do I begin with my home loan modification?

In order for us to help, you need to provide us with your income and mortgage documents and we will take care of the rest. Our trained staff will organize your case and take care of all the necessary paperwork to give you the highest degree of leverage during the negotiating process.

How long does the Loan Modification process take?

Most of our cases take between 30 and 60 days. During the loan modification process, lenders will generally hold back on the foreclosure proceedings until the case is resolved.

How can I be sure this will help?

Our experience has helped thousands of homeowners reduce their loan payments and keep their homes. If there is a way to lower your mortgage payments and keep your home, we will find it.