CALL TODAY TO FIND OUT HOW WE CAN HELP YOU! (909) 552-5888
FREQUENTLY ASKED QUESTIONS
WHAT IS A LOAN MODIFICATION?
A loan modification is a process in which the Lender allows a change in the terms of your existing mortgage. The purpose of a modification is to significantly lower your monthly payments, for either a temporary or permanent period of time.
HOW MUCH CAN I REALLY SAVE BY DOING A LOAN MODIFICATION?
It’s possible to save hundreds or thousands a month.
WHO IS ELIGIBLE FOR MORTGAGE ASSISTANCE?
If you are facing any of the following circumstances or situations, we can help you:
WHAT IF MY CREDIT IS BAD?
A loan modification is not based on credit. Lenders are trying to make a good loan out of a troubled loan.
WHAT IF MY INCOME IS TOO LOW?
You will need to show the Lender that your household can afford the new payment. We will determine this in our Pre-Qualification when you start the process.
WHAT SHOULD I EXPECT THE TERMS TO BE ON MY NEW LOAN?
Lenders have rapidly changing guidelines for loan modifications. A Lender will typically modify your loan into payments you can continue to pay. This may include a lower interest rate, payment rescheduling, principle reduction, longer terms or any other function that will keep the loan performing.
DOES EVERY LENDER MODIFY?
Almost all Lenders do. We are in a housing crisis and Lenders are willing to work with clients to help save their homes.
HOW LONG IS THE LOAN MODIFICATION PROCESS?
This depends on the lender, but typical turn around times can range from 4-6 weeks up to over a year.
Call (909) 552-5888 to find out more.