Frequently Asked Questions
What can ModRep do for me?
There are many ways that we can help you save your home and stop the foreclosure process, counting negotiating a loan modification / restructuring, repayment plot, or fleeting sale. During your free consultation and upon analysis of your finances and goals we will let you know what options you qualify for and the benefits of each option. Contact us for your free consultation.
What is the main goal of ModRep?
ModRep will negotiate a stable loan modification with your lender that will stop the foreclosure process, give you an affordable payment, and allocate you to save your home and your confidence. If you don’t want to stay in your home and need a fresh start we will negotiate a fleeting sale with your lender, this will allocate you to sell your home and avoid a costly foreclosure.
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 that results in a payment that you can afford. This can involve a reduction in the interest rate, modifying an adjustable rate to a fixed rate, forgiveness of past due payments, reduction in principal, extension of the term, or any combination of these. Loan modifications can be structured in many different ways depending on each individuals circumstance. Contact us for your free consultation.
What is a Fleeting Sale?
A fleeting sale occurs when a homeowner wishes to sell their home to avoid foreclosure, but the home has declined in value to the point where the amount owed on the finance is more than the sales price or value. We negotiate with the lender to get them to accept less than the full amount owed, and you go on with a fresh start, debt free, and most importantly avoid a damaging foreclosure.
Who is qualified for the ModRep program?
Our program is mainly for people facing any financial hardship although we are often able to also help people without any financial hardship at all. If you have a financial hardship and are unable to stay current on your payments and can prove your ability to stay current on a modified payment, give us a call now so we can evaluate your situation.
Other companies have contacted me, what makes ModRep different?
ModRep uses a special formula to calculate your modification that others don’t. We also negotiate on your behalf for each doable concession from your lender as opposed to stopping once we have a single concession as most other companies do. We have built our reputation as gentle Bulldogs who struggle for their clients within the lenders mod organize. This allows us the advantage other companies don’t have since they don’t have a clue exactly what the lender will accept. We know that going in and we get it for you.
I have contacted my lender and they will not work with me, can you still help?
Yes, we hear this all the time. Because we work with lenders each day, we have developed the credibility with key contacts at most lenders and they are more receptive to us and our clients. Our staff knows how to present your situation to your lender so you receive the most favorable solution. Let our experts help you now.
Why do I have to act immediately?
When you are behind on your finance payments, time is working against you. Each day that passes by makes it that much more hard to negotiate with your lender. Many homeowners fail to face the reality that they may lose their house and be forced to go out. The sooner we start working with your lender the better chance we have at saving your home. Putting this off is not different than putting anything else off, it ends up never getting done. This is your most vital family assets, don’t play games with it, secure it for the future and let us help you now, not next week.
My confidence is already terrible, what happens if I do nothing?
Doing nothing is the worst thing you can do. You can lose everything counting your home and your confidence, which usually results in loosing your family. Having a foreclosure on your confidence report is far worse than any derogatory items that you might already have. It will take years before you rebuild your confidence and worst of all you may face lawsuits and judgments from lenders if they are forced to foreclose. Let us provide you with a fresh start, find out what your options are now.
What happens if you are not successful with my Loan Modification?
We have never been unsuccessful in our efforts to help our clients modify their finance. If we accept your contract, we will succeed and our track record proves it. But, in the very unlikely event that we cannot successfully modify your loan, and place you in a better situation, we have other options available, plus a 100% money back guarantee.
