Loan Modification

A Loan Modification is any change in one or more of the terms of your current loan without refinancing.

Rate Reduction

Some lenders will lower your interest rate to make the payments more affordable.  

Extend The Loan Term

In addition to reducing the rate, some lenders will extend the term of the loan to make the payments even more affordable.

Repayment Plans

If a homeowner is behind on payments we may be able to get the lender to agree to set up a repayment plan and bring the loan current. A Good Faith Down payment may be required to reinstate the loan.

Principal Reduction

Some lenders will bring the balance of the principal down to make the payments more affordable.

Temporary Payment Suspension

Some lenders will allow a homeowner to suspend their mortgage payments up to 6 months to help the homeowner get back on their feet.

Deed in Lieu of Foreclosure

Deed in Lieu of foreclosure (DIL) is an option in which a homeowner voluntarily deeds the property back to the lender, in exchange for a release from all obligations under the mortgage.