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FHA Licensed Loan Modification

Save Your Home!

If you are having trouble and/or behind on your payments, you have several different options available to you:

	Loan Modification - A modification occurs any time any term of the original loan contract is permanently altered. This can involve a reduction in the interest rate, forgiveness of a portion of principal or extension of the maturity date of the loan.
	Short Sale - You sell your property for less than you owe but your lender accepts it as payment in full.
	Repayment Plan - The lender will add on an extra amount onto each payment for a set period of time to catch up on payments that are behind.
	Loan Workout Plan - Either a Loan Modification or a Repayment Plan.
	Forbearance Agreement - The lender negotiates a repayment plan and may force you to list your home for sale.
	Pre-Foreclosure Sale - You sell your property before foreclosure takes place.
	Deed-in-Lieu of Foreclosure - You sign your property back over to your bank and walk away.

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Posted by Kurt Mitstifer on 11/05/2009 05:16 PM

Comments (1)

Loan Modification in the ActiveRain Channel

debt, loan modification, debt settlement, credit repair, fha

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1 Comments on FHA Licensed Loan Modification

NOV

Great Article!
My mother's loan modification was a nightmare when she went direclty through her lender.

Then after they denied it, she was scammed by a loan mod company out of Florida.

She finally got the loan modification through an A Rated BBB company called Mortgage Assitance Group out of Glendale, AZ.

Her payment was reduced by 30% and they used government funds paid off all her arrears.

Its important as consumers to point out the good guys with all the scams out there.

Here is their information if you know anyone that needs their loan modification programs.

Mortgage Assistance Group 7055 West Bell Road, Ste 22 623-486-4505 www.mag-az.com

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