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A loan modification is when your current lender modifies your existing mortgage to make the loan more affordable. Usually it is in the form of a rate reduction and fixing the rate. In the past this was only used when a borrower was delinquent and suffered a hardship such as a job loss, divorce, illness etc.
Now borrowers can obtain mortgage help from their lender for unaffordable rate adjustments, to lower their principal balance in order to sell or refinance they're home, or to lower or defer payments until they are back on there feet. The earlier you get started, the better your chances are of getting the modification that's right for you. In the current market you no longer need to be late on payments or in foreclosure to modify your loan. Free Consultation!Flat Fee, No Hidden Costs! |
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JMcBride@AssetBuilderLoan.net
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