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Palmdale, Lancaster, Long Beach A+ BBB Mortgage Loan Modification Company | Los Angeles
For A+ BBB Los Angeles Mortgage Loan Modification CLICK HERE
Homeowners in the Los Angeles area are distraught as foreclosure rates continue to climb. There were 16,287 foreclosures in the county in December alone, according to RealtyTrac. If you are at risk of losing your home, it may not be too late to get help. HomeStart offers quality loan modification services with no upfront fees. Start new, not over with Homestart!
What is a loan modification?
A loan modification is a permanent change in one or more of the terms of your loan. The purpose of a loan modification is to allow the borrower to meet the new terms in order to prevent foreclosure. A loan modification is not a refinance; it is a renegotiation of the loan terms. In other words, a loan modification is a contractual agreement between the Lender and the Borrower to provide long term relief from unaffordable loan terms. Loan modifications can lower your interest rate, monthly mortgage payments, and the principle balance. Since the cost of foreclosure to the Lender is higher than new terms, lenders are open to loan modifications to prevent foreclosure. HomeStart is here to help you through this process.
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