What is a loan modification? With a loan modification your representative negotiates the best possible terms with your mortgage company. Rates can be in the 3%'s, mortgage balances can be reduced, years can be added to lower payments, any lates payments/fees can be forgiven. You DO NOT have to be behind ... you can have perfect credit, or be one day from foreclosure. The lowest refinance rate out there cannot come close to what you can get with a loan modification, and all consultations are completely FREE! Even if you are just curious, this is an option you cannot afford NOT to look into.

10 minutes, a few questions, and your home can be saved even if the sale date is tomorrow!!

100% Money back guarantee!! We will stop your foreclosure, modify your loan to an extremely low FIXED rate, and get rid of ALL late payments and charges. Have Debt? Ask about our debt settlement program and save 70%+!

Benefits

• No long pre-approval process, get answers in minutes. 90%+ of loan modifications CLOSE
• We have gotten fixed rates in the 3's and cut thousands off mortgage balances!
• Your credit does not matter. You can be paying on time, or be fully in foreclosure.
• Your income does not matter. Stated income, no income, job loss? Many times income issues HELP your case.
• NO appraisal or equity needed. You could owe twice as much as your house is worth.
• These can get done fast. There is no title, appraisal, and etc that can delay the process.
• Behind? All back payments, late fees, attorney fees can be put back into the loan.
• No stacks of paperwork and endless conditions to close after weeks of waiting.
• The costs are 50% - 80% less than a normal refinance. No points, title fees, appraisal fees, and "junk" fees.
• Works on ALL property types from mobile homes to investment properties.
• Debt consolidation/settlement options available to save 70%+!

Loan Modifications Facing foreclosure can be overwhelming and scary, but by taking the right steps you may be able to keep your home and save your credit. The following information is provided to help give you a better understanding of loan modifications. Overview of Loan Modifications A loan modification is one of the best options available for struggling homeowners and lenders alike. A loan modification is beneficial to the borrower because it allows the individual or family to remain in their home and grants them loan terms that work better for their particular life style or situation. A loan modification in comparison to foreclosure, bankruptcy, or some of the other options, allows the borrower to keep their credit score intact. Loan modifications are also beneficial to banks and lenders, especially with foreclosure rates sky rocketing in the last few years. Banks lose a lot of money in a foreclosure. Not only does it cost money to go through with a foreclosure but it often results in an overall loss for the banks, as the homes often sell for less than they are worth, or less than the outstanding loan amount itself. In a CNN report on March 6, 2008 Bob Moulton of America Mortgage said, "It's cheaper for a bank to renegotiate payments than to chase someone and miss out on monthly mortgage payments." This is entirely true; banks lose over 50 cents to the dollar on homes that are sold through foreclosure auctions. Loan modification is a long-term solution that will help the borrower make their loan payments and stay in their home. This can be accomplished by: decreasing the interest rate changing from a variable to a fixed rate mortgage extending the term of the loan (the period of time the borrower has to pay the loan back) switching to a different type of loan altogether Some forms of loan modifications are more easily obtained than others. One of the easiest ways to modify your loan is to ask for a decrease in the interest rate. Most lenders are willing to aggressively decrease interest rates for qualified applicants. A decreased interest rate can save you anywhere from a few hundred to a thousand dollars every month; this depends on the amount of your loan. Lengthening your loan is another way to modify, which is often not too difficult to have a lender carry out. By increasing the number of years you have to pay off a loan a homeowner can decrease their monthly payment by a couple hundred dollars. However, it should be noted that this option increases the overall amount of the repayment as extra interest accrues over the extended period of the loan. A principle balance reduction is the most difficult loan modification to obtain. This involves the lender forgiving a portion of your debt. It is very difficult to get a lender to agree to this type of modification, because the lender has to report that money as a loss on its balance sheet and the purpose of the loan mod is to minimize losses. Background on Loan Modifications Sub-prime mortgage practices deserve much of the blame for the current crisis. Throughout the early part of this decade, mortgage lenders earned huge profits lending money to borrowers with questionable credit histories. The roaring housing market and the availability of easy credit perpetuated a cycle of refinancing whereby a borrower that could no longer afford their monthly mortgage payment could simply refinance into a new mortgage; often at a low teaser rate. Once the housing market stalled, however, sub-prime borrowers found themselves unable to refinance. This led to record numbers of foreclosures. As reported in a New York Times article in December 2006, "about 1.1 million homeowners who took out sub-prime loans in the last two years will lose their houses in the next few years." The article further explains that, "foreclosure will cost those homeowners an estimated $74.6 billion, primarily in equity." Recently, a new wave of problems has arisen from so-called Alternative-A loans. These Alt-A loans were very popular over the past several years among self-employed borrowers or those with stated incomes. Many individuals who obtained Alt-A loans have been unable to stay current on their mortgage payments, especially as those loans have adjusted to higher interest rates. With housing prices dropping, borrowers are finding themselves upside-down and actually owing more on their loan than the value of their home.

Loan Modifications While it may be nearly impossible for a homeowner whose home is in foreclosure to get a property-saving loan, it is actually quite common for those seeking to buy foreclosures to qualify for the loans they need to purchase the properties. Because most lenders who have taken possession of foreclosed properties insist that they be sold for at least two-thirds of their appraised value, any borrowers whose credit record qualifies for a loan of that amount will be able to bid on the properties. Should they pick up the properties at 33% discounts, they can use the difference in the appraised value of the homes to get a building loan. Capitalizing On Foreclosure Loans Suppose, for example, that a lot valued at $60,000 is sold at a foreclosure auction for $40,000, and the property's new owner borrows against his $20,000 additional appraised value to finance a loan for the cost of placing a home on the property. If he spends $200,000 in construction costs, home, sells the home with the $60,000 lot for $350,000, he can pay off all the loans and walk away with $90,000. Using Foreclosure Loans In Pre-Foreclosure Those who want to maximize their chances of getting homes at deep discounts should pay attention to foreclosure listings and be willing to contact homeowners who are still in the preliminary stages of the foreclosure proceedings. A homeowner might be interested in selling to a private party rather than see his or her home sold at auction. The homeowner might settle for receiving a percentage of their accumulated equity and having the balance of the mortgage paid off. They will get some cash for a down payment on a new home, and have a much easier time finding a lender because they have avoided foreclosure. And those using foreclosure loans to arrange these kinds of pre-foreclosure purchases will not have to wait for the property to reach the auction block, where they may not be able to compete with other bidders. The best time to approach a homeowner is after he or she has been served with a demand for payment stipulating the amount of money it will take for the foreclosure process to be stopped. Once the homeowner knows exactly how much it will take to keep his or her credit record free of a foreclosure, you can begin looking for foreclosure loans with which to purchase the home and get the homeowner off the hook. But some homeowners may delay too long, and even those who have foreclosure loans in the pipeline and are drawing up the sales papers may be too late to prevent the foreclosure.

Loan Modifications Hope For HomeOwners Program : HomeOwner Help 2009 The government is trying to help decrease the housing crisis by offering the "Hope for Homeowners" program. It is a FHA refinancing choice for homeowners who have adjustable rate mortgage loans. Their goal is to decrease the rate of foreclosures in the country by putting them into fixed-rate mortgages. It is scheduled to run until September of 2011. How to Qualify for FHA Hope Refinancing Program Initially, you will have to get in touch with a lender who is approved to FHA loan and see if you are qualified for the FHA refinance Hope program. As usual, there are specific conditions for the program. Some standard conditions for FHA refinancing include: Your current mortgage loan began on or before 1/1/08. Your monthly mortgage payments are more than 31% of your gross monthly income (as of 3/1/08). You did not intentionally become late on your payments. You have never been convicted of fraud. You do not own other residential real estate. You did not input false data on your mortgage application to get the original loan. These are the minimum conditions to qualify for the FHA Refinance Hope program. Moreover, there may be additional conditions based on your file. Common Questions and Answers The main objective of the FHA Hope program is to assist at-risk homeowners (who are close to foreclosure) to refinance out of an ARM and into an affordable fixed-rate mortgage loan. This benefit should decrease the borrower's monthly payments who enroll into this FHA loan program.