LOAN MODIFICATIONS

Loan Modification or better know as a “Loan Mod” is a process that evaluates your current mortgage terms and then re-negotiate them to accommodate your current financial situation. A Loan Modification is similar to a mortgage refinance. It usually creates a new set of terms, often extending the life of the existing loan.

There is a difference between refinancing and restructuring. Restructuring is not going to give you any cash such as a refinance will. What a Loan Modification does is take your existing balance and in most cases stretch it back over the entire life of your loan.

Loan Modification is a plausible option for foreclosure assistance, but there are certain requirements a homeowner must meet in order to be eligible.  Call us today at 866 998-7878 to speak with one of our highly trained foreclosure assistance professionals to find out if a mortgage restructuring is right for you.