Many of our clients will find themselves using a Loan Modification Plan in an attempt to stop a foreclosure.  If you can currently make your regular payment, but you cannot catch up with the past-due amount, we will negotiate with your lender to roll any past-due amounts including interest and escrow, into the unpaid principal balance.

If you are unable to make payments at the current rate, we will negotiate with your lender to extend your loan for a longer period of time, thus modifying the loan amount to a more affordable level.  We have also been successful at lowering the interest rate, which would give you a lower monthly payment that you can afford.  If your rate has adjusted, we may be able to have the rate adjusted back to its previous level.  This will not only result in a lower monthly payment you can afford, but will also help you to pay off your home at a quicker pace.

A Loan Modification will change your existing mortgage note and give you a fresh new start in managing your home.  Your account will be brought up to date immediately.  You will no longer have the lender calling and asking you to pay fees and charges that you simply can not afford.

Federal legislation allows homeowners who negotiate loan modifications with lenders to escape income-tax liability for the amount forgiven.