What is a Loan Modification?
A Loan Modification is a stable change in one or more of the stipulations of your loan giving you a fresh start, by lowering your finance payment. The sole purpose of a loan modification is to enable you to more easily meet the stipulations of the loan.
Our in house legal team will analyze your current situation and provide a workable plot that is acceptable to both you and your lender. Influential a lender to do a loan modification is not simple. You must demonstrate to the lender that it is in their best interest to modify your current loan. To do this, the loan modification package must be professionally presented according to strict guidelines and delivered to the right personnel.
A few of the doable solutions with a loan modification include:
- Eliminate late payments and penalties
- Stop the foreclosure process
- Decrease your current interest rate
- Decrease your payments
- Modify your adjustable rate to a fixed rate
- Reduce the balance of your loan
- File a lawsuit against your lender
- Negotiate a Forbearance Agreement
