What is a Loan Modification?
A loan modification is a business decision by a bank or lending institution in response to a homeowner's long-term inability to repay a loan. Loan modifications typically apply to the terms of the loan, which include the interest rate, amount of monthly payments, length (in years) of the loan, and potentially a reduction in the principle balance. Fill out the private consultation form, and we will determine your ability to qualify for a loan modification within 24 hours.
What is a Deed-In-Lieu?
A Deed in Lieu of foreclosure is an option in which a mortgagor (homeowner) voluntarily deeds the property to the lender in exchange for a personal release from all obligations under the mortgage. The main advantage to the homeowner is that it instantly releases them from most of the personal obligation associated with the repayment of the loan. The homeowner can also avoid the public process of a foreclosure and often receives more favorable terms than they would if a foreclosure occurred. Lenders favor the Deed in Lieu option, as they save time and money over having to foreclose. We have successfully negotiated $10,000 for a homeowner who deeded their property to Bank of America and left the home in good condition - fill out the private consultation form to find out if you qualify for a Deed-In-Lieu!
What is a Short Sale?
In a short sale, the homeowner sells the property for less than the remaining loan balance, and the lender receives all of the proceeds of the sale. Lenders incur less financial loss as compared to foreclosure or continued non-payment, and homeowners are able to remove themselves from the obligation of having to repay the mortgage. We have been successful at negotiating with Chase that a homeowner receive $30,000 at the completion of the short sale, even though the homeowner was over $300,000 underwater on the mortgage - fill out the private consultation form to find out if you qualify!
What is an FHA Short Refi?
The Housing and Urban Development Dept. (HUD) and the Treasury announced improvements to the existing Making Home Affordable Program and FHA refinance program that gives a great number of responsible homeowners an opportunity to stay in their homes. These improvements are designed to retain home ownership by providing borrowers a chance to refinance into an FHA loan. To find out if you qualify for an FHA Short Refi, please fill out the private consultation form.