Getting a loan modification

The most desirable solution to mortgage troubles – assuming you tried to refinance and can’t – is to enter a loan modification program. This is becoming an increasingly prevalent way for thousands of homeowners to overcome mortgage difficulties in an unforgiving market.

The importance of doing it right

While it is possible to negotiate directly with your lender, it is generally not recommended. There are many pitfalls that can cause your modification attempts to go awry. A professional loss mitigation specialist can help you navigate through the process and ensure that you do everything right.

The reason it’s so important to strictly follow the lender’s process is that they need to make a sound business decision. As such, they are going to review everything about your financial situation and whether or not modifying the loan will actually result in you successfully making payments in the future. If something is done wrong, it can kill your chances. We know just what the lender is looking for and the process you need to follow.

So what is it that you’ll need?

There are many different forms that you’ll need to fill out. You can get those directly from our website when you apply for loss mitigation assistance. Among these forms is an application, a financial analysis worksheet and a hardship letter.

In addition to the forms, you will need to gather various documents such as W2s, bank statements, recent pay stubs and other related information. We’ll make sure you have a complete checklist among your forms so you can keep track of everything you need to do.

We negotiate on your behalf

The hard part is getting the lender to accept your application for a loan modification. Fortunately, you can leave that to us and our 20+ years of experience working with mortgage lenders. You can rest assured that a team of skilled professionals are working on your behalf when you enlist our services.

What happens after a loan modification?

A loan modification is permanent. A new contract is drawn up with the revised terms and you and the lender will be expected to adhere to the new conditions.