Loan Modification Services
Your loan modification services will be provided by Specialized Mortgage Banking Attorneys. Having a specialized attorney involved, often can make the difference between saving your home or losing it. By having an attorney working for you, you can solve your mortgage modification needs FASTER with better terms.
Put a Stop to Foreclosure!
New legislation makes it possible to modify your existing mortgage, even if you’re in foreclosure!
A successful loan modification can lower your payments, extend and modify your loan term and interest rate, and, in default situations, a loan modification approval will even stop a foreclosure on your home!
You only have one Chance!
Completing your initial Loan Modification Application correctly is the most important step in process. Lenders will decide if you qualify for fast track approval based on this application, and the loan modification approval criteria differs from lender to lender. Successful negotiations require you to retain an experienced professional loan modification law firm with expertise in this very important application and negotiation process.
Loan Modification Services:
- Negotiation of Current Mortgage to a 30 years fixed with a “Reduced Interest Rate“.
- Modification of Current Mortgage to negotiate a “Reduced Mortgage Amount“
What does a loan modification mean to you?
- Save your Home
- Avoid unnecessary foreclosure and headaches
- Save thousands of dollars on your mortgage
- Lower your monthly payments
Other loan related Services:
- Legal services with respect towards attempting to negotiate a “Short Sale“
- Have a Forensic Audit conducted on loan closing documents and use said audit to negotiate possible reimbursement of closing fees and/or interest paid, etc. and to negotiate a Modification of Mortgage
Our process is easy and has only a few steps.
You only have one chance at a fast track modification approval. We make sure we don’t waste our client’s time or money. Representation by our Attorney’s firm ensures that we present the best case to your lender in order to obtain a successful Loan Modification. We believe that a Loan Modification negotiation should never be attempted by consumers without legal representation. Our Attorneys will take the weight off your shoulder.
Why can attorneys achieve better results?
Attorneys know the law and may review all closing documents, will analyze your circumstances and will present the best compelling argument to the lender. They can achieve the best modification results and lowest monthly payment FOR YOU the client. In the negotiation process, they can achieve also loan reductions and help get extensions for your loan period from 15 to 30 years if applicable.
Why does the lender do the modification?
There are many reasons:
- Attorneys can find irregularities in the legalities and it is easier for the lender to modify than have a “Forensic Audit” and end up in a lawsuit.
- It costs much less than a Foreclosure
- They don’t want to end up with too much inventory.
Why should I use an attorney?
You can do a modification by yourself, but you know that the Lender is out for themselves, they have attorneys, so shouldn’t you have representation? It cost much, much less to modify your loan than to refinance.
Have you fixed your car or computer lately? Would you go to court without an attorney when hundreds of thousands of your dollars are at stake? If your answer is no ,then why would you do legal modification without an attorney?
Why not hire mortgage brokers for less?
How did we get to this mess in the first place? By using unqualified “mortgage brokers” without any proper education and training. Did you learn our country’s lesson? Use trained professionals especially when it is the same cost or only a few dollars more.
Have an attorney who is specialized in modifications read and revise all your documentation instead of a former car salesman or pizza delivery guy.
Attorneys have more advantage because of their extensive knowledge of the law and the ability to point out wrongdoing.
Wouldn’t you like to have a peace of mind that you did it right at this time?
How can I afford it?
A loan modification is much cheaper than a refinancing. It is approximately half or one third of the cost. Call us for advice.
Is the Loan modification the same as a forbearance agreement?
No, Forbearance agreement is just a temporary break and not a long time solution like the modification.
Does my Credit get damaged?
Loan Modification DOES NOT DAMAGE your credit. If you had, late payments before you came to us you have lost some points. 30-60 day mortgage late payments will easily fade away from your credit with time and the damage is minor compared to a Foreclosure.
If you were not late with your mortgage, it is a win –win scenario.
Why not refinancing?
To refinance a house is a much bigger expense than to modify a loan, and you achieve the same result.
What do I need for a modification?
Same as a refinancing. Same documentation, just much less expense.
- Copy of your Drivers license and social security card
- Last two months paystubs for all borrowers on the loan
- W-2s and Tax Returns for the last two years
- If you are self-employed you will have provide a year-to-date profit and lost statement
- If you have a second job or receive income from other sources, you will need to provide those documents
- Copy of a mortgage statement
- Your last two months Bank Statements for all your accounts including ALL pages
- Copy of your Homeowners Insurance Declaration page
- Hardship Letter explaining your circumstances as to why you need a modification - we will help you to prepare
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