How To Do A Mortgage Modification

Data from June 2009 shows that more than 24% of homeowners owe more then what their home is worth. Data Analysts are back forth about how housing values have bottomed and leveled off and now are on the rise again. I say which is it, like I said it changes every day! Deutsche Bank claims that by 2011, 48% of homeowners will be underwater, meaning homeowners will owe more on their mortgage then what it is currently estimated value.

However, job losses could delay the turn around, economists say. In particular, many worry about a wave of coming mortgage note resets that could increase foreclosure rates or force people into Loan Restructure. How can a home Home Loan Modification help you, the homeowner?

A mortgage modification changes your loan terms without refinancing your current note. It requires negotiations of several factors, which we have listed below, with your servicer. The terms of your loan are restructured so that they fit your financial instituation and you can afford your new monthly payment.

Reasons to lower mortgage payment:
• To lower your interest rate,
• To reduce your high payment,
• To reduce your principal balance because you owe more then what the house is worth,
• To change your adjustable rate to a fixed rate,
• To increase you’re the terms of your loan,
• To assist you in missed payments, penalties and fees,
• To provide temporary assistance to skip or reduce mortgage payments
• To bring property tax and insurance payments current,
• To stop foreclosure,
• To assist you with any type of financial hardship,
• To prevent you from being thrown out on the street,
• To get you out of a negative amortization loan, or
• Any combination of the above.

Many homeowners who need a Loan Mod are already in a very stressful situation and are looking for help with their negotiations. Most homeowners don’t have the financial instituation. They are finding that the financial instituations are not helpful and continue to deny their request, or try to force them back into a BAD Mortgage Restructure, just like the bad loan the financial instituation put them into in the first place.
Instead of the dealing with your lender and the hours needed to negotiate with the bank, find a qualified, experienced Mortgage Restructure Attorney Firm. They can take the stress away from you as the homeowner, so that you can concentrate on your family.

If you are thinking of a Bank Mod, we have experienced Attorney’s that can conduct business in almost all states. They in turn, have negotiated over 20,000 successful Home Loan Modification to date and offer 100% money back guarantee. If you need help, please contact us at www. CallALMS.com.