Loan Modification - Free Consultation

Mortgage Bailout Plan


The presidents "Making Home Affordable" and "Home Affordable Modification Program" program includes two major parts, refinancing and loan modification. 

If you have not made any late payments in the last 12 months, and your home value is near the value of your mortgage, then you may be able to refinance.  If you are behind on your payments, but could afford a lower payment, then the modificaiton plan may be right for you. 

In any case, fill in the form to the right or call 1-866-542-2647 for a free consultation. 

Often the bank will make an initial offer to you in hopes that you will accept it.  In many cases this is simply a short term fix that can add to your loan balance and only temporarily reduce your payments.

Recent data shows that up to 50% of modified loans redefault because the offer that the bank makes is as unsustainable as the original terms.

You must be vigilant in your negotiations with your lender.  It is best to get third party representation from an attorney, CPA or licensed mortgage broker that can negotiate on your behalf.

If you can not afford professional representation, there are many certified FHA community housing counselors  that offer the service for free.  Toll Free 1-866-542-2647

If you have bad credit and can not refinance and you can not get a loan modification, then you may want to look into a short sale.  This is when you sell your property to a third party for less than you owe, contingent on if the lender will release you from the loan.  This prevents a foreclosure and doesn't reflect as negatively on your credit as a foreclosure would.

FILL OUT THIS SHORT FORM FOR A REFINANCE OR LOAN MODIFICATION CONSULTATION OR CALL 866-542-2647

First and Last Name Only
City
State  (location of property)
Street Address
Zip
Work Phone ( ) - - (one valid # required)
Home Phone ( ) - - (one valid # required)
Type of House 

For businesses, get a Commercial Mortgage Modification . 
Current Value
(Example: 200000)
 
Purchase Price

(Example: 200000)
Total Mortgage Balance
 

(Existing 1st and 2nd)
Current Interest Rate
Fixed or Adjustable?
Monthly Payment


Behind on Payments?
How Would Your Rate Your Credit?
Total of unsecured debt (total of credit cards, personal loans, medical bills)
Best Time to Call

First Mortgage Balance
Service you are interested in  
Email Address user@isp.com

Who is your lender?  How many payments are you behind? List other information that may be helpful. 


(Example: Ocwen, 3 payments behind, Notice of default filed 11/03/08. Maximum 255 characters.)

May we have your permission to send you occasional special offers by email?  You may unsubscribe any time .
Yes No

 


All information collected is treated as strictly confidential and will only be used for the purposes of a foreclosure loss mitigation or loan modification consultation. We will never sell your name to a third party marketer.  You agree to allow our consultants to call even if you are on the do not call list.

 

What is a mortgage loan modification?

Loan modification is when you and your existing lender agree to permanently change the terms of your original note.  A loan modification is more than just foreclosure prevention.  A successful modification is affordable and permanent. 

Why would the banks want to renegotiate?

The banks would rather change the terms of the loan to a payment that you can afford than take the property through foreclosure.  This will allow them to keep the loan on their books at full value rather than being forced to mark it down according to current mark-to-market accounting rules.

Do I qualify for a loan modification?

There are many factors that determine on what basis a lender will modify a loan.  Equity, income, payment history, debt ratio and many other factors.  An experienced loss mitigation consultant can guide you as to the best approach to take.  Every case is different.  If you are employed and can prove your income and if your current payment or future payment is unaffordable, then you probably qualify. 

What does it cost?

Fees vary among loss mitigation companies but are generally equal to about one mortgage payment.

Can I do it myself?

You can negotiate on your own but you are more likely to get a better deal if you have a professional negotiator on your side.  The bank is unlikely to offer you the best possible deal.  Professional loss mitigators have existing relationships with most lenders and know how to get to the decision makers.

Who is Leadsnet Inc.?

Leadsnet Inc is a privately held leads provider.  We provide the information that you submit to loan modification companies, mortgage companies, attorneys and consultants.  Your personal details will be made available to a maximum of three companies.  We don't sell your information to marketing companies or third parties for any reason other than the free consultation that you are registering for.  We are not affiliated with any government agency.

What is a cramdown?

A cramdown is when a bankruptcy judge reduces the amount of a debt in a bankruptcy proceeding, often at the objection of one or more creditors.

Click here for Short Sale information.

 

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