Loan Mods Plus 3 Alternatives

Mortgage and Lending with KIM LAR INC
Loan Mods* may be the best alternative after you examine the other options: REFINANCE A Refinance may be possible if you're current on your payments and have a reasonable credit rating. Refinancing with a late payment or credit blemish is nearly impossible in the current market. FOREBEARANCE A Forebearance is when your lender agrees to a repayment plan on your mortgage. It usually involves a substantial down-payment and increased monthly payments. This is good for the lender, but not so for the homeowner. SELLING If you simply need to sell, there are options that may get your house sold before the foreclosure, EVEN if you have little or no equity. This is a viable solution if none of the other methods fit for your situation. LOAN MODS The company working for you negotiates with your lender to modify your loan to establish a lower interest rate, a lower monthly payment and in some cases, to wipe out all back payments giving you and your family a fresh start. *Don't forget, not only can you get a loan mod on your personal residence, loan mods can be obtained on rental properties, even if you have more than one. Larry Potter

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