Frequently Asked Questions

What are the benefits of loan modification?

No qualification needed.

Avoid foreclosure

Lower monthly payments

Improve your credit

Avoid collection calls from your lender

How long does a loan modification take?

It could take between 30 to 65 days.

How long until I'm approved?

Once we receive a full package we then submit the package to your lender. We should have an answer within 30 days.

Should I continue to make my monthly payments?

Depending on your lender and the ongoing negotiations, there is a possibility of not having to make payments during the process.

What is our success rate?

Even though no two scenarios are the same, with our experience we achieve an over 90% success rate.

Does my credit matter?

Your credit score does not matter during the course of the loan modification.

 What qualifies as an acceptable hardship situation? 

Generally, if you have experienced a severe change to you financial situation due to divorce or separation, medical issues, military service, death in family, loss of job or transfer, natural disaster your lender will consider your modification application. However, each situation is unique and viewed on its own merit. A well written, compelling hardship letter will help your bank determine your situation and intentions 

 I am not late yet on my payments-but I am struggling and foresee a problem-can I still get a loan modification?

Yes, the Federal Government is strongly encouraging lenders to reach out to all borrowers with adjustable rate and option arm loan programs now before they go into default. If you see a problem continuing to make your payments, don't wait, contact your lender to start the modification process. Bear in mind, the homeowners already in default will receive assistance first.