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 Benefits of Loss
Mitigation - Loan Modification
Services.
Do you owe to much to
sell? We can help you keep your property. The
New Economic Stimulus Package Supports These Programs Until Dec. 2009
If
you are trying to sell - maybe it can't
be sold unless you bring thousands of dollars to the closing. Modify
the loan to stay in your home * Loan Modification * Debt Renegotiation * Debt Consolidation * Reduce your principal
* Reduce your interest rate
* Erase back payments * Stay in your home
* Save your credit
* Protect your equity * Stop creditor calls
* Avoid bankruptcy * Change the terms of a loan even if you are current |
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Our Home Savers team has
experience
with Loan Modification services; you continue to own and/or stay in your
property.
 We work with you and
your lender in a win/win solution through the loan modification process.
The loan modification is a change in the loan contract terms, such as the loan amount or interest rate, agreed to by the lender and the borrower. The common modifications right now are those made to reduce the loan amount to offset the depreciation in the home value and
modifications to reduce the payment burden on borrowers faced with impending interest rate increases that will make monthly payments unaffordable.
Modifications are made when borrowers can no longer meet the financial requirements to make their monthly mortgage payments. Lenders look at loan modifications on a case-by-case basis. The burden of proof is placed on the borrower.
The burden of proof is placed on the borrower. This is where our experience helps you.
Depending on your lender, they will request different items to help modify your loan.
You must show the lender loan modification is less costly to them then a foreclosure.
Things lenders typically need:
Your loan account number.
A brief explanation of your circumstances. This is sometimes also referred to as a hardship letter.
Income documents:
pay stubs; benefit statements i.e. social security, disability,
unemployment,
retirement, or assistance.
If you are Self-employed, have your tax returns or a Year-to-date Profit and Loss Statement available for
reference.
List of household expenses.
Depending on your lender's requirements and requests, we may need different forms filled out by you throughout the process.
We endeavor to make this process as seamless and simple for you as possible.
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 Loan Modification Programs Helps Avoid Foreclosure
When faced with a difficult circumstance,
it's common for people to downplay the situation - hope that things will get better.
It's easier to avoid a problem than to admit there is one.
This is certainly true with people who are facing foreclosure.
Its hard to admit even to yourself that there is trouble.
Confronting
it head-on with a Loan Modifications saves your
valuable credit and your property.
We get you back on track,
lower your payments and you stay in your home!
When the mortgage payment is a problem, we can work with your lender with a loan modification. This saves your property and your credit. Contact us by calling
201-679-5700 or 800-251-0746; lets meet to discuss your options.
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