Mortgage Modification Loans

In the chart below you can see services that offer mortgage loan modifications. Use this to check the main features of each service – what mortgages are supported for mortgage modification loans? What are the restrictions on mortgage loan modifications? Mortgage Loan modifications can prevent you from facing foreclosure. Your financial obligation on the home loan should be eased after mortgage loan modifications. Most modifications involve lowering interest rates, lengthening the overall loan term and ending penalty fees. However, this is usually worked out on a case-by-case basis so make sure you compare the loan modifications offers. Most banks and lenders accept loan modifications as they are a lower cost to themselves than a full default on the loan.

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COMPANYTYPE

TYPE

Lender / Broker

APR

APR

The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

AMOUNT

AMOUNT

Mortgage amount which can be modified

BALANCE

BALANCE

Maximum balance of mortgage

HOME DETAILS

HOME DETAILS

Type of home mortgaged

COSTS

COSTS

Cost of mortgage modification service

TERMS

TERMS

Terms and conditions of loan

SUITABLE

SUITABLE

Applicants the loan is suitable for

RESTRICTIONS

RESTRICTIONS

Restrictions regarding potential borrowers

MORE INFO

LoanMODYes
LoanMODYes

Lender4% - 11%$80,000 - $2,000,000Up to $1,000,000Single Family, Condo, Multi-Unit PropertyAsk on applicationTerms

Terms

Estimated property value from $105,000

Suitable

Suitable

If you are behind on your mortgage

Restrictions

Restrictions

See website for restrictions.

LoanMODYes
LoanMODYes can help you to lower your monthly payments if you are behind on your mortgage. They offer mortgage modification loans. They will help you stop foreclosure proceedings by negotiating with your lender to lower your existing loan balance. They have helped save thousands of homes nationwide through mortgage modification loans. Their Loan Modification experts specialize in working with your lender to lower your mortgage interest rate, so that you can afford your monthly payments, and keep your home. DETAIL INFORMATION >>Services

Services

LoanMODYes negotiate with your lender on your behalf


Advantages

Advantages

1. 100% Secure Application.
2. Lower your monthly payment.
3. Lower your existing loan balance.
4. Stop foreclosure proceedings.


Disadvantages

Disadvantages

1. You need to apply to obtain more information
2. There fees are not clearly stated.

Get 4Closure Help
Get 4Closure Help

Lender4% - 11%$80,000 - $2,000,000Up to $1,000,000Single Family, Condo, Multi-Unit PropertyFind Out On ApplicationTerms

Terms

You must be a homeowner.

Suitable

Suitable

Suitable for those who are either looking to change the terms of their loan or those who are falling behind on mortgage loan repayments.

Restrictions

Restrictions

You must be a qualified homeowner.

Get 4Closure Help
If you are facing Forclosure and are looking for a mortgage loan Modification then Get4Closure is there to negotiate a deal for you. They work with your lender to see whether they can reduce your interest rate and modify your loan so that you can keep on top of your finances. Get4Closure pride themselves of taking on nearly all applications, whether or not you have a bad credit rating and they will try to get you a mortgage loan modification. They serve their clients in a relationship-oriented, trustworthy homeownership manner. DETAIL INFORMATION >>Services

Services

1.Save up to 90% off your legal costs.
2.Fast and easy online application service.
3.Free consultation.


Advantages

Advantages

1. With by negotiating a Loan Modification you can lower your monthly mortgage payments.
2. The teams specialists deal directly with your lender on your behalf.
3. Secure and Confidential Service.
4. Accepting of nearly all credit situations.
5. Long time experience in Loan Modifications.
6. Free consultation.
7. Superior service for customers and professional counselling advice.


Disadvantages

Disadvantages

1. You are not guaranteed to be helped after your free consultation.
2. Only 90% success rate so no real guarantee
3. No cost details given on homepage. You must apply to find out service costs.

If you wish to speak to someone: Contact Us

Compare Mortgage Modification Loans

Mortgage modification or loan modification can really help you out of a tight situation if you know what you are doing

Who Can Get a Loan Modification?

Loan modifications, which are supported by the US Department of Treasury, are for people who have a high mortgage debt or people who are at risk of default. So if you are facing financial difficulty or even eviction from your property, a loan modification might be a good way to solve the situation.

What is Mortgage Modification?

Mortgage modifications are changes to the terms of your home loan. This change can be to one or more of your loan terms, and is permanent. The procedure is designed to reinstate your loan if you are concerned about payments. Usually a loan modification involves changing your interest rate, lengthening your loan term, waiving your fees and a line drawn under past delinquent payments. The modification is an agreement between the borrower and the lender. The aim is to give the borrower lower monthly payments and the lender a less costly solution than handing out a foreclosure.

How Can I Get A Modification?

You cannot arrange a loan modification on your own. Generally you will need to contact your bank or mortgage lender and tell them of your situation. In the majority of cases, lenders and banks look favourably on loan modifications, because they are less costly than arranging a default or foreclosure. You can also seek legal advice from a lawyer (estate attorney) who can act as 'middleman' between you and the lender. Their professional experience can help to make the process easier. However, they may charge a fee for their service.

Will the Lender Accept This?

Most likely, yes. Banks and lenders want to avoid foreclosures almost as much as you do, because they lose money in that process. A loan modification is therefore seen by banks and lenders as a much more appealing alternative.

What is Foreclosure?

Foreclosure is what happens when a lender repossesses your property – in other words, they are reclaiming the home on which you laid your mortgage and have been unable to meet payments. You are evicted and lose all possession or equity on the home. Each state has its own rules and legal timeframe for a foreclosure, but it is the one process that a homeowner will want to avoid.

How to compare mortgage modification loans

When looking at mortgage modification loan providers then you must ensure that you look at the administration fees charged by legal teams or attorneys that you use to achieve an easier process. Always ensure that you read the terms and conditions so you are fully aware of the fees and charges. In addition you should familiarise yourself with any restrictions that you may need to be aware of. If you are in any doubt then you must seek independent financial advice.

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