If you cannot afford your current mortgage due to a financial hardship, and want to stay in your home , we may be able to change certain terms of the loan â€” such as the interest rate or the time allowed for repayment â€” to make your payments more affordable. Any change to the original terms is called a loan modification or mortgage modification
Our clients are saving up to a 60% off their monthly mortgage payments!
There are multiple loan modification programs available, including the federal governmentâ€™s Home Affordable Modification Program (HAMP), which is where we are seeing the majority of mortgage modifications. We are seeing most mortgages reduced up to 2%, and in some cases, the rate is adjusted to 3.5% until the maturity of the mortgage. In addition, over the last few months we have seen an upward trend of mortgage companies "forgiving" a portion of the principal balance in underwater homes.
These programs offer different options for borrowers in different situations, but all are meant to help people keep their homes when facing a significant hardship. We work with you to determine whether a loan modification or another solution may work for you.