Antioch, Concord, Pittsburg A+ BBB Mortgage Loan Modification Program | Contra Costa

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Many homeowners in Contra Costa County are struggling to keep up with their payments, as the high foreclosure rate demonstrates. RealtyTrac reported that in December 2009, 1 in every 65 homes in Antioch received a foreclosure filing. If you think you are at risk of losing your home, it may not be too late to get help. HomeStart is here to help the many people who qualify for a home loan modification to keep their home!

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?

In addition to having an A+ grade from the BBB, HomeStart is licensed by the California Department of Real Estate (DRE). The DRE established certain policies for its members regarding the capability of performing home loan modifications. The DRE thoroughly assesses a firm before allowing it to become a member, which demonstrates the legitimacy of HomeStart.

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