Illinois had one of the top ten highest foreclosure rates in the country in 2009 and doesn’t seem to be getting a much better start in 2010. There were more than 18,000 new foreclosure filings in January alone, according to RealtyTrac. While the situation is distressing, it may not be too late to get help. HomeStart will determine if concerned homeowners in the area qualify for a loan modification and find the best solution to keep them in their homes!
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 one of the few loan modification companies with an A+ rating from the BBB in both the Loan Modification and Real Estate Loan Modification categories. In addition, HomeStart is licensed by the California Department of Real Estate (DRE). HomeStart offers free consultations with experienced representatives and strives to find the best solution to keep you in your home.
The advantage of using a loan modification company like HomeStart over trying to work directly with your lender is that most lenders do not have the time and personnel to accommodate your request. At HomeStart we focus on providing excellent customer service to understand your unique situation. Our team of experienced loan modification consultants is here to help you start new, not over.
For more information please visit www.YourHomestart.com