Foreclosures in San Bernardino County have reached frightening levels, putting many homeowners on edge. A shocking 1 in every 52 homes in Hesperia received a foreclosure filing in December 2009, according to RealtyTrac. If you fear you are at risk of losing your home, it may not be too late to get help. 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.
Why choose HomeStart?
HomeStart has a success rate of nearly 90% of submitted loan modification applications. HomeStart has been able to achieve this by taking the time to work on loan modification applications that most other firms won’t bother with. With HomeStart you can expect a higher degree of professionalism and customer service, with the ultimate goal of keeping you in your home!
Here is an example of a recent loan modification performed by HomeStart:
Property in California
Total monthly savings of $1,132.38/month
- Primary Residence:
Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of $2,445.30.
- Modified to:
Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments.
For more information please visit www.YourHomestart.com