Question:

I got a subprime loan two years ago. It was an ARM that was fixed for 2 yrs then began adjusting. My rate went from 5.875 to 9.5% and we can no longer afford the payment. We were considering walking away from our home and renting. I tried contacting my lender with no luck. Can anything be done?

Answer:

Never just walk away from your home!!! The bank does not want your home back just as much as you don’t want to give it back. Yes, the banks are overwhelmed with people in your position and cannot help each individual. When you work with our company we will use our expertise and relationships to modify your loan and negotiate an affordable payment. If you are still working and have the ability to repay the loan in some manner then we can help you keep your home. If you are not working we have avenues that will help you and your family while you try to get back on your feet without getting thrown out on the street.

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Question:

I am way upside down on my property and my ARM just adjusted. I think that my property might be worth $350,000 and I owe around $457,000. My payments went from $2900 to almost $4,000 when my rate went up. I don’t see a point in paying this huge payment when I am so upside down on my property. What are my benefits to staying in this house other than keeping my credit rating up?

Answer:

None! Other than credit and possibly loving your house that is keeping you there. But that gives us ammunition to work against the lender. While you as an individual will not be able to get a balance and rate reduction, we at the MOD Squad most likely can (depending on further analysis). We have a high success rate modifying loans with borrowers in your situation who need their principal balanced reduced and their interest rate lowered. This is a win-win situation for you! If this sounds like your situation CALL US TODAY!

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Question:

I am three months behind on my mortgage. To bring me current is thousands and thousands of dollars more than I can afford! I don’t want the bank to take my house back but there is no way that I can catch up. What can I do?

Answer:

Depending on what stage of the foreclosure process you are in will determine our course of action. Do not worry about being behind. Our expert staff can take your past due amount and put it on the back end of your loan while possibly eliminating any and all late fees. We will then figure out why you got behind on your mortgage, what you are capable of paying and how the lender wants to approach your individual situation. Chances are good that modifying your loan will benefit both you and your note holder.

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Question:

My husband lost his job which makes us a single income family. We were barely making ends meet with both incomes. Now that we have only mine we are four months late on our mortgage and the bank has filed NOD (Notice of Default). We know we are going to lose the house, right?

Answer:

Not necessarily. Being that the bank has filed NOD is not a good thing but it does not mean that you are doomed. With the right help you can stay in your house without making payments for an extended period of time while a team of attorney’s fights for you. If during that time your husband finds a job we might be able to modify your loan and keep you in your house. If not, you are living without a housing expense for an extended period of time. This should enable you to save enough money to get you on your feet.

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Question:

My ARM just adjusted and my rate went through the roof. I tried to get a traditional refinance but was denied. I went Stated income with less than perfect credit to buy the property and now those programs no longer exist. What should I do?

Answer:

Let us modify your loan. We are not a credit driven service and use the total household income to help prove the ability to repay; not just the person on the loan. This means that anyone living in the house can contribute their income to help you qualify for a loan modification. This is a complicated process but I am sure that there is some type of solution for you. Give us a call, its Free and confidential.