We can reduce your mortgage interest rate and even get your loan balance reduced and past due payments forgiven so you can comfortablely meet your payments!
Your Bank Connection, and a Network of Attorneys and Mitigators will help you with Loan Modifications and Forensic Loan Audits. We also offer a Do It Yourself Loan Modification with instructions on how to negotiate a Loan Modification. We want to help save homes from foreclosure.
The out come of the modifications have been better than most anticipated: • Interest rates reduced to as low as 3% fixed for life. • Past due amounts up to $46,000 forgiven. • Principle balance reduced by as much as 25%
There is NO charge or obligation to determine if you are eligible for a Loan Modification. If you currently have an FHA loan, once TARP funds are released, eligible homeowners will receive the modification at no cost to them.
A Loan Modification is the lifeline to homeowners in need of help. If you are facing foreclosure or behind on
a mortgage payment because of financial hardship, consider a Loan Modification. If you want to save your
home from foreclosure, a loan modification will restructure your current home loan to include a Interest Rate Reduction,
Payment Reduction and/or Principal Balance Reduction. This will enable your monthly mortgage payment to fit comfortably into your current
household budget. A Mortgage Loan Modification also eliminates the tedious task of qualifying for a new mortgage.
To help you understand what a loan modification, negotiated by our Loan Modification Legal Network can do for you, please consider the following facts:
• A loan modification is agreed upon when the original mortgage terms set forth by the lender include a mortgage payment unrealistic to the homeowners monthly income, greatly increasing the risk of foreclosure.
• Loan modifications help stop foreclosure proceedings by reinstating the loan as they are being mitigated by out 50 state attorney network.
Listed below are some additional facts explaining why mortgage lenders are in favor of working with borrowers, while our Loan Modification Legal Network negotiates mutually beneficial loan modification terms.
• All or a portion of the outstanding principal balance, past due mortgage payments, late fees, and lender costs may be rolled into the loan modification. Simply put, the amortization of the loan may be increased resulting in a lower monthly payment for the home owner.
• Modified home loans use many repayment options to create a win win situation. In most cases, the mortgage lender will lower the interest rate and modify the variable term into a 30 or 40 year fixed mortgage. The lower monthly payments help ensure repayment by the borrower and create more interest earned by the lender over the life of the loan.
• Foreclosed homes are a hindrance on the lender as well as the borrower. When a bank forecloses on a home they are almost always guaranteed to loose money. Mortgage lenders have to pay real estate agents to list the home as well as any repairs required to make the home sale ready. Usually the home is listed at a discounted price, therefore causing the bank to loose money on the transaction. Add the slowing housing market to the equation and a loan modification seems a much more attractive financial solution for any lender.
• A modified loan accompanied with on-time payments positively affect the credit rating of a borrower resulting in less default within a banks mortgage portfolio. This is a benefit to the lender, speaking in bank terms.
