Loan Modifications
Loan Modifications
Find out if you qualify for a Loan Modification
A loan modification permanently restructures the mortgage where one or more of the terms of the homeowner’s loan may provide for a more affordable payment plan, but this is not always the case.
Unfortunately, many banks make it very difficult for homeowners to get a loan modification.
The cons of
Loan Modification
1.
Less than 20% of loan modifications are ever approved
2.
If you're using an attorney, this will cost $3000-$6000
3.
You will most likely never see the equity in your home
4.
After a loan modification, your home will be worth less than what you owe to the bank.
5.
If you miss any payments your loan will not be reinstated during trial period
6.
Your mortgage will now include: Late fees, penalties, interest and attorney fees
Estimate Your Loan
Check to see if you qualify for a Loan Modification
Complete this calculator with accurate information to see if you qualify to speak with one of our experts to get a loan modification.