Bakersfield A+ BBB Mortgage Loan Modification Help | No Upfront Fees | California

Services for Real Estate Pros with HomeStart

For A+ BBB Bakersfield Mortgage Loan Modification Services CLICK HERE

California has the fourth highest foreclosure rate in the nation, and the overwhelming foreclosure activity isn’t limited to the coast. RealtyTrac reported that 7% of homes in Bakersfield foreclosed in 2009, totaling over 19,000! While the situation may seem discouraging, HomeStart offers free consultations and excellent customer service to help you get a loan modification that will keep you in your 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?

HomeStart is licensed by the California Department of Real Estate (DRE) to provide turnkey loan modification services. A loan modification is a multi-step process involving Intake Processing, Underwriting, Bank Submission, Negotiations, Approvals and Contract Review. As the only DRE Licensed, A+ BBB rated business in California, we offer you A-to-Z service. It is important to be cautious of working with non-accredited and unlicensed loan modification companies because they are not providing legitimate services.

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.

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