Washington State's Full Service Mortgage Servicer!
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WWW.RATEMODIFY.COM is your full service mortage servicer, with over 20 years of experience in real estate mortgage. Having worked with every major lender, we are able to offer the best chance of acquring a secure and successful home loan modification.
Under the HAMP program, a homeowner's mortgage payment cannot exceed 31% of their gross income, and because most home loans exceed 31%, the majority of borrowers are eligible for assistance.
Homeowners can immediately determine what your current mortgage debt-to-income is and how much your monthly payment may be reduced if you qualify for Obama's Loan Modification Program.
We currently are now proud to serve the cities of Seattle, Bothell, Woodinville, Everette, Edmonds, Lynnwood, Marysville, Monroe, Arlington, Federal Way, Tacoma, Olympia, Tukwilla, Shoreline, Kirkland, Bellevue, and Snohomish, Washington. We are continuing to expand our services to new cities daily, please contact us for a secure and successful loan modification!
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A Loan Modification is arguably the most effective tool you can use if you are behind on your mortgage and in the midst of a financial hardship to save your home from entering foreclosure. With a loan modification, the mortgage loan is restructured so that it is affordable and can fit comfortably into your budget rather than being an overwhelming monthly drain on already tight finances.
Loan modification agreements come in different forms. Frequently they involve the reduction of the Borrower's interest rate for a specified period of time so the homeowner can continue to make affordable payments and stay in the home. Loans can also be modified so they have a longer amortization term (e.g. 40 year instead of 30 year) which will cause the payments to decrease. Principal writedowns are rare, but they do indeed happen where the bank actually writes down some of the principal amount.
The majority of the home loans needing modification today are conforming mortgage loans made by big banks such as HSBC, CitiMortgage, Countrywide, Household, IndyMac, JPMorgan, Wells Fargo, Washington Mutual and Bank of America and based on Fannie Mae and Freddie Mac guidelines. If you are behind on your mortgage and do not see any relief in your near term future, you can benefit from a loan mod.
How it Works
The process is really very simple and unique. You start by filling out a free loan modification evaluation form, providing us with your contact information. Your case is then immediately sent to a loan modification specialist who will be contacting you to provide a free, professional and valuable consultation. After the consultation, if a loan modification is possible, you will be asked to fill out a more thorough application about your current financial situation as well as what options you are willing to take in order to achieve your loan modification.
During Phase I you will need to fill out a more thorough application about your current financial situation as well as provide financial documentation in order to create a package ready to send to your lender requesting a loan modification. Keep in mind that the loan modification package will only include modification options you choose to participate in.
Phase II (Guaranteed)
When your loan modification package is complete, and sent to your lender, you will have the option to have one of our loan modification specialists negotiate your terms with the lender.