We offer the best loan modification programs available and we will fight for you as a negotiators to stop your foreclosure. We have helped many homeowners stop foreclosure with many of the nations largest lenders. If you can afford your home and have had a hardship that is now over and want to get back on track contact us today for loan modification help.

Options available for loan modification:

A loan modification is the changing of one or more of the original mortgage terms in order to help homeowners bring a defaulted loan current to prevent foreclosure. Loan modification options are:

• Straight Modification - Capitalize delinquent interest, escrow, attorney fees and costs - the capitalized amount is added back into the UPB (unpaid principal  balance)
• Step Rate Modification - Drop interest rate for a year to three years and every year raise rates back to original interest rate.
• Extend the term of the mortgage - will drop payments
• Reduce the interest rate
• A combination of the plans

If you need loan modification help contact us so we can help save your home. We can help stop foreclosure

In many instances a homeowner is set up on a forbearance plan prior to completing loan modification which allows a mortgage company to monitor the financial condition of a homeowner during the special forbearance period to be sure the homeowner will be able to make payments to the lender. There are important documents required that are reviewed by a mortgage company.

Hardship Letter:

To qualify for a loan modification homeowner must have a valid hardship. The hardship must be documented and given as many details as possible to support your case. A hardship letter is very subjective and pretty much a formality in the process of getting a mortgage modification. There are a few hardships that are considered voluntary and do not qualify, quitting a job or reducing the amount of hours worked are typically not accepted. The hardships are documented and if there is an additional default the homeowner can not use the same reason for default otherwise their previous hardship was really not over and in many instances the |homeowner is denied a loan modification.

Financial Statement:

The financials are used to determine the homeowners ability to pay. This is usually the first form reviewed by the mortgage company negotiator. This document must clearly indicate monthly income and expenses as well as current assets and liabilities. This is what makes and breaks the entire loan modification review. This document also shows whether or not the mortgagor will be able to make payments if the mortgage is modified. There must be a surplus income at the end of the loan modification or else the plan will be denied. The plan must be affordable. If a homeowner is severely over-leveraged with debt there is little chance that a loan modification will cure the delinquency. Monthly expenses are reviewed to determine what bills are necessary and what are unnecessary. Necessary expenses are food, utilities and gas and an example of unnecessary are entertainment expenses, expensive phone plans and unsecured debt. Household expenses mortgage payments, utilities, and taxes take up most of the monthly budget. Do not make expenses look unreasonable will be a red flag to get further detail. The negotiators will always look for assets that can be liquidated.

Proof of Income:

The proof of income is usually a paycheck stub, a P&L Profit and Loss Statement if self employed, or checking account statement showing paycheck deposits. The proof of earnings is required to prove the homeowner has steady income. The mortgagor must also give frequency of pay. The proof of income must correspond with the income shown on the financial statement. Resolve any discrepancies

Part One in our Loan Modification Help series

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Stop foreclosure in Los Angeles

I have been approved for the mod program @5% for 30 yrs I had a neg am loan that was a 40 yr loan that peaked 110% so my payments went to 2668.00 to 7889.00 a mo. I wanted the bank to make the loan a 40 yr @ 5% so my payment would be even lower. Ocwen already received my new loan papers but I haven’t sent them back b/c I want them to offer me a option of extending the life of the loan from 30yrs to 40 yrs. Also I wanted them to pay my property taxes that are a year late at the back end of the loan. I need a  Loan Modification with Ocwen

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Stop Foreclosure in Miami

I am currently in a pay back program with mortgage company.  I have about 6 years remaining on mortgage.  The payments I am currently making to save home are hard to make.  I would like to refinance to 15 yr mortgage to help us to straightened out. Ocwen Mortgage.  yes we can make mortgage payments.  We had several things happen over the last 2 years that caused us to get behind on mortgage.  foreclosure help with Ocwen

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Loan Modification Help

I refinanced 2 years ago and the mortgage broker talked me into an ARM with multiple payment options and a low minimum payment. With the rise in living expenses I have only been able to make the minimum payment resulting in negative amortization. Each month I lose money on my house and run up more credit card debt. I am current with my mortgage at this time but struggling to stay that way. I am trying to avoid falling behind and ruining my credit. we need a loan modification

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Stop Foreclosure in Florida

wife had to take a leave of absent for 5 different surgerys on her legs and hips. This took over a year for her to return to work and was on a limited duties order. Unable to work her org. schedule she was released from current position and placed elsewhere. I was found to have a 95% blocked internal carotid, having the stess test done for that surgery, I was requested to have a arterial cath test the next AM, there they found that I also had 4 heart arteries blocked and would require open heart surgery as well. This was the Friday of Easter Week and surgerys were done on Easter Monday. Recovery time was 4 months and I then returned to work. Then during the month of November my right leg starting hurting and my toes were changing sensation and color. After working until I could no longer walk I went to see my doctor and was told that I had to decide if I was to have surgery or just allow my leg to turn black and fall off an I had tonight to decide. This Below Knee Right Leg Amputation was done I am still in recovery at this time and currently unable to work outside my home so I’m using our cpu to bring money home, slow going, Any questions please contact me via e-mail,
wife has been let go at her current job, downsizing.
loan modification with First Franklin

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Stop Foreclosure in Jacksonville

My wife lost her job. I’m the only one working. I have an adjustable rate mortgage. My interest rate is 10.375%. My payments went from 877.16 to 1312.92. When my wife was working we had 2 incomes. Now I’m trying to pay everything and we’re falling behind. I want to keep my house. I need help. My situation changed when my wife lost her job. I also have an ARM thats 10.375%. We need loan modification help with HSBC. My wife is going back to work but we are just way behind. Please help stop foreclosure.

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Stop Foreclosure in Los Angeles

husband lost job. got behind. divorced Sept. I lost job in January. Just got back to work in June.  Just me and my Son at the house. I got the house in the divorce.  Very far behind. Not sure what to do.. I have got nothing from them. was on a repayment plan last August but just now can I keep up with the payments.  Been depressed and on Meds now to control it.  I have to keep the house for me and my sone. I have a job that I can support the payment now. and soon will have 2 incomes again in the house hold.
I have not delt with a lot of issues I should have. But I am trying to get things right and save my home. Can you help me. My X is still on the note and but he is not responsible for the note anymore by the divorce papers.  I know this is not how it remains on the credit but he pays childs support ( less than he should).
Foreclosure help

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Stop Foreclosure in San Diego

I am a self employed gardener who purchased my home several years ago for $355,000 with an adjustable rate mortgage being serviced presently by Chase. The home is presently worth about 200,000. I guard my credit carefully, but on the next reset we may go delinquent. I start my day at 3:00am and finish by 9:00pm with no opportunity to communicate during the day except with one of my weekly customers. I have asked him to work on finding alternatives for Loan Modification help with Chase. He contacted you and you were able to help stop foreclosure and save my home. Thank you we really needed the loan modification help and you were able to deliver.

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My husband and I refinance 2 times in the 8 years we have had our home.  The payment is $1,850 per month which we can not afford, if there were any way that our payment could be cut in half we could afford to keep our home. Our mortgage company is Saxon Mortgage, we told them we could no longer afford the payment, they didn’t offer any alternative to stop foreclosure, so we told them we would move by the end of this month and do a voluntary foreclosure or deed in lieu.  We would rather keep my house and save my home from foreclosure. We need loan modification with Saxon Mortgage

If you are in foreclosure we can help. We have helped many homeowners stop foreclosure and saved their homes. Contact us to verify if you qualify for a loan modification we can pre qualify you on the phone and get you started  on your way to being current. We will not know for sure whether or not the investor that owns your loan allows modifications but we find out on our first contact in many instances from your lender who the investor is and whether or not you qualify. We show you how to get the numbers right in order to get the best deal possible. We have been offering loan modification help for over 4 years now. We actually worked in the loss mitigation department for many lenders in the past and decided to leave work to give the best professional service.  Below are contact that we have helped stop foreclosure.

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We need a loan modification with Countrywide

we were having no problem until I had a loss of income for 3 months and then a number of family issues came up which did not help our situation. The economy with oil prices etc has not helped either. I am now back at work and am doing a side business which should start picking up. we need foreclosure help with CountryWide please help us get our loan modification.

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Countrywide Loan Modification

My daughter was living with me during last year.  She has since moved to her own place in January, but I had begun to get behind on payments.  I called Countrywide and we had a workout plan to pay $752 for 3 consecutive months.  I made payments during Feb, March, but April was not received.  I mailed May Payment, only to have it returned.  I didn’t relized April was not received (lost) and they canceled the workout.  I have been calling since June and they will not reinstate the workout plan.  A sale date has been set. I am able to make 2 payments now, then an extra by end of July, but Countrywide will not reinstate the original workout plan.  I can make current payments, probably won’t have the entire amount to pay attorney fees, and late payments, please help me get a loan modification with Countrywide

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Loan Modification Help with GMAC

Illness - currently on LWOP with employer.  I will be eligible for retirement in January, which will provide me with a steadier income.  For now, I have a temporary income of $1,500 monthly and assistance with my son (age 29) who also lives at home and assists with mortgage and utilities. GMAC foreclosure assistance

Foreclosure is a legal proceeding where the mortgagee (the lender) gets in many cases a court order to begin the process of taking back the property used as collateral on the mortgage document. At closing (the purchase of the property) the mortgagor (buyer) signs the mortgage and the mortgagee (lender) puts up money and the homeowner signs the document that uses the house as collateral. If the borrower misses a payment the servicer (mortgage company) reports the mortgage as being late to the credit bureau. If the loan continues to be late the mortgage company sends a tape feed to the credit bureau reporting lates. After 90 days or 3 months of late payments a default letter (demand letter) is sent to the homeowner demanding payment in full within 30 days or the loan will be referred to a foreclosure attorney.

Once the loan is referred to the attorney the attorney begins billing and the first step is to issue a Lis Pendens (court action informing of foreclosure) and the mortgagor is served with foreclosure paperwork. The service is the actual notice that the loan has been placed in a foreclosure status and the lender is pursuing their rights on the property. In the foreclosure paperwork is a court date 20 days after service to allow an “Answer Period”. This allows a mortgagor to appear in court and state their case in front of a judge. It does not matter what you say the attorney will ask to continue pursuing the foreclosure based on the mortgage documents that were signed giving the house as collateral. As a homeowner you do have the opportunity to hire an attorney in your behalf and can stall the sale by requesting all foreclosure documents and verifying proper steps were taken to refer to foreclosure. In many instances the sale can be stalled.

Around the 60th day of foreclosure there is another court hearing “Final Judgment Hearing” the hearing sets a foreclosure date at or around 30 days from final judgment hearing.

The auction takes place at a defined area.

We can help stop foreclosure during any phase of foreclosure contact us today.

Tags: Foreclosure Help