ARM Adjusted

The most common need for a loan modification is caused by an Adjustable Rate Mortgage adjusting after the short fixed term. Homeowners who were approved for mortgages two to five years ago have a lot smaller chance of getting a refinance meaning that their choices are limited to selling the property (if they have equity or can find a buyer in this tough market), walking away and foreclosing or getting a loan modification. Investors tightened their guidelines to such an extreme that it is nearly impossible for many borrowers to qualify, especially those who had a hardship in the past or are self employed.

With our techniques thru experience with the loss mitigation departments and real estate expertise we will work to get your rate lowered and fixed for a substantial period of time. Once we have a clear picture of your given situation we can present a rock solid proposal to your lender that will enable you to have a payment that you can afford.

Homeowners with adjusting ARMs need to consult a professional or an attorney before they accept the banks modification offer. This is especially true if the home is worth less than you owe. Homeowners will only get one modification, meaning if you do not go for a principal balance reduction now, you might never get the chance. Imagine getting your interest rate lowered and your balance dropped. Make sure you talk to someone that knows the industry and what type of modification you qualify for before you jump at the banks first offer. There are different degrees of loan modification, you want to be as drastic as possible.