Got a Question? Ask the Loan Modification Experts

Just wanted to say thank you for modifying my loan and reducing my mortgage rate and payment.

At first I didn't think this was even doable. You said you could prevent me from foreclosing on my home and you did it. I didn't have to walk away from my home. Yeah!!!
I am glad I took the initiative and had my loan modified with you.

I will recommend all my family and friends to you who are in need.

Again, thank you.

Ahmad and Debra Khalil

Hi,

I am trying to modify my loan with my lender and I am not getting anywhere. I provided them what they needed about a month ago and they asked me to fax over and over again. It is like my faxes are going to a black hole. Now, I am way behind and I am not getting any calls back.

What is it that I need to do to get them to reply back and safe my home from foreclosure?

Please help. Thank you.
-R. Smith-

Hello R. Smith,

Sorry to hear about your situation. Don’t worry! The Modification Squad are here to help you.

Due to excessive loan modification requests and high ratio of foreclosures lenders are very busy with homeowners trying to save their homes to avoid foreclosure however it shouldn’t take more than 3-5 business days for your lender to get back to you. Unfortunately, these lenders do not have all the capabilities or the man power to save everyone especially when you are on your own.
However, when a loan modification attorney is involved, it seems calls start to get answered and letters responded to. Often this makes the difference between saving your home and losing your home.
Please do not wait until it is too late. Contact us at our toll free number 877-778-2308 or email us at http://www.themod-squad.com/contact/contact.html so our attorneys can help you save your home.

The Modification Squad.

I am presently 3 months behind on my mortgage of $2609.91
a month @ 9%. I had gotten myself caught up in credsit card hell and could not beat the rate increases. one is finished and the second is almost paid . I am in a debt management program for these.

Someone suggested that a loan modification may help. We have a joint income of $5449./mo.and both are working. My husband is retired on pension which is the bulk of our income. He works part time and changed jobs to a lower income which is proving to be non sufficient. He is also eligible for veterans financing which was also suggested. I would appreciate a response as to the best thing for us to pursue. I have tried a loan and also refinancing but our credit rating is not good enough for either one.

Dear Janice Wroe

The best thing for you to pursue is the Loan Modification Program and here is why:

Your credit rating has no impact on the loan modification process or results since it is not credit based.
In your situation, with loan modification you are more likely to have better terms on your loan than if you were to refinance (such as lower interest rate, lower payment, lower fees, etc...).
With the loan modification program the interest rate could be reduced from 9% to a much lower rate depending on your financial situation. Also, being 3 months behind and the fact that you were in a debt management program makes you a very good candidate for a Loan Modification program.

Please feel free to contact me directly for a FREE consultation and analysis.

Thank you.

My husband an I got behind in our mortgage payments when he was out of work (with a bone infection) for almost three months. When he returned to work he was not working a full 40 hours. He is now back on 40 hours. We filed Bankruptcy and were just recently discharged. We are not in foreclosure. I have been supplying information to our Lender who stated they could help. 3 Months have gone by and we still have not heard from Wachovia. We are usually 1 month behind, but sometimes 2.

Dear Geraldine,

Wachovia is not looking at you like you are a foreclosure threat which lowers your chance of getting a modification approved. You are getting behind then catching up. All this does is enable them to collect more fees and penalties while dragging you along. They are probaby not responding to you because you are making payments and not falling too far behind. Understand that Wachovia's loss mitigation department is swamped with homeowners who are 120+ late. While your home is one of your top concerns, it is not even an issue for the bank.... yet.

The underlying fact is that you have the income to support a reasonable monthly mortgage payment. Income is the most important attribute the borrower has that the bank evaluates. If you need to get your loan modified your bank will do it, with a little help from your friends. My recommendation is to contract us to modify your loan for you or to do it yourself. Many homeowners who want to know their options as well as how to structure a loan modification on their own have been turning to our eBook. www.loanmodificationmades imple.com . It is a much more affordable way to fix your mortgage crisis.

Thanks for the comment, contact us with any questions.

How much do you charge for loan modification?

Our loan modifications vary in price depending on a few factors. These factors include what state you are in as well as your individual situation. Our pricing is among the lowest out there for the product that we offer. Please call us for a free consulation in order to get an exact quote. 877 778 2308

Hi,

I have a property in Vegas that's about $150k below the sale price. Can this property qualify?

Gilbert,

Occupancy does not play a very big role in the decision for a bank's decision whether to modify or not. When the house is auctioned off, the house does not command a different price due to the occupancy of the previous owner. Therefore, the bank will take the same loss no matter the occupancy.

The driving factor behind your lender's decision is whether they believe you will be able to make the modified payment. This is where the modification process differs between occupancies. If the bank is convinced that a homeowner can maintain their primary residence, the investment property as well as everyday expenses, then they will modify the loan. The risk is higher on an investment property so do not expect as aggressive of a modification as a primary residence.

So, to answer your question; Yes, a bank will modify an investment property. If their calculations, including risk, determine that they will lose less by modifying than foreclosing, then there is a good chance that they will grant a modification.

i am in ch 13 i was told to relase back 4 investment single houses what can i do to still save them thank you. also can i stop a foreclsure aftyer the houses are out of bakruptcy and how thank you.

HI I have been contacted by another company and the want 1500.00 for there help I don't have that kind of money what do you charge for your help. They said they would take payments but still it was 500.00 for three months again I don't have it if I did I wouldn't need the help. So what is your price?

I'm 2 months behind on 1ST mortgage with Bank of America and 2 months behind with Countrywide Home Equity Line of Credit. I live in SC. There was no apprasial done for the HELOC with Countrywde. I don't feel the property is now worth what it is currently financed at. What do I qualify for in regards to reducing the principle balance and interest rate on these two loans in terms of modification? I am currently in process of settling several credit card debts.