LOAN MODIFICATION

Make Your Home Loan Affordable. Refinance and Modify Your Home Loan.

If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible.

What is a loan modification?
A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, which results in a payment the mortgagor can afford. Loan Modification can be done in 2 ways. The first way is to adjust or modify your existing loan. Mortgage lenders will sometimes do this but for the most part they will not adjust the terms of the loan. The borrower needs to contact their mortgage lender to see if they are willing to change the terms. The second way to change your loan is by getting a new home loan.

Desired Result
The desired result is a permanent change to the mortgage rate and/or terms of the loan which lowers the monthly payment and makes the home loan payment more affordable for the borrower. The goal is to help the borrower reduce their monthly mortgage payments to approximately 30% of their gross income.

2 Ways to Get a Lower Monthly Payment
There are 2 basic ways lenders will change the loan to lower your monthly mortgage payment. They are; 1) lower the interest rate on your mortgage and 2) extend the term of the loan, up to as much as 40 years, effectively reducing your monthly payments.

1) Lower The Interest Rate

2) Extend The Term of The Loan

A Loan Modification might be the answer to your financial situation. To find out, fill out the FREE No Obligation Quote. Lower Your Monthly Mortgage Payment Today!

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