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| Loan Modification |
The Increase in Loan Modifications Loan Modifications have become much more common in the last couple years, but they have not become any easier. Many home owners have become frustrated with the tangle of paperwork and red tape they need to go through to try and get their mortgage loan modified.
Recent years have seen a large increase in foreclosure rates, but many homeowners have been able to avoid this tragedy by successfully modifying their loan with their mortgage lender. Many homeowners were hoping to take advantage of government programs, but those failed to work as well or as quickly as was promised. Fortunately there are many 3rd party options available for loan modification. How Loan Modification Works
Loan modification works by changing the terms of the mortgage loan. Flexible interest rates are changed to fixed rates, which usually results in a saving for the homeowner or at the very least makes it much easier for the home owner to budget. The percentage rate may also be lowered, or the length of the mortgage may be renegotiated so that monthly payments become affordable to the home owner again. In some rare cases even the principle amount owed can even be reduced.
Much has changed since 2007 when many people saw things turn for the worse. At that time most mortgage lenders didn’t even offer loan modifications. They would typically foreclose or else defer the late payments by adding them to the loan amount. Of course this did not help at all because it would not lower the amount that needed to be paid each month and left home owners in a futile struggle to catch up. Now almost all lenders are willing to engage in a loan modification as it allows the home owner to keep their home, and ensures that the lender will receive a return on their investment.
The key to successfully negotiating a loan modification is knowledge. Being knowledgeable about the laws, government initiatives and options available, as well as the correct paperwork to collect, present, and file makes it much more likely that a loan will be modified. Many homeowners have attempted to do this themselves and had their submission denied, which is why it is usually better to work with a loan modification expert who has a track record of successful modifications in the past.
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| Success Stories |
"I wanted to first thank you for everything that you and your team have done. My program was very successful and I was able to resolve over $168,000 in debt within about four months at approximately 30% of it's total value. I am amazed by how well your program worked and will be referring it to friends and family in need."
"Thank you so much! We are so thankful for all that Clear Debt America has done for us! I never could have imagined that we could have cleared as much debt as we have in the past year and a half. We tried for many years to accomplish this on our own and obviously could not achieve these results. So, again thank you to you and all of your team for your outstanding work and effort on our behalf. You will receive referrals from us."
"Dear Debt Negotiation Managers, I just wanted to say Thank You to all of you who consistently help me in my credit matters. I do appreciate all of your hard work and caring attitudes. This situation I am in is not a fun place to be in. It helps to know that there are good people like yourselves that truly care and truly want to help others. You have made some incredible deals for me and I greatly appreciate it! You all are awesome! Thank you from the bottom of my heart!."
"Well, we ve made it through the woods, and the credit cards are all paid off. we want to thank Clear Debt America (and you) for making the process so smooth. we´ve really felt that you were working for us and that you had our interests in mind at every turn."
"It's great to know that in these troubled times Clear Debt America can help people get a fresh start"
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