Under this option with ForeclosureWideHelp, you reach an agreement between you and your mortgage company to change the original terms of your mortgage—such as payment amount, length of the loan, interest rate, etc. In most cases, when your mortgage is modified, you can reduce your monthly payment to a more affordable amount. We will handle all of the paperwork on your behalf when choosing this option. Please beware that you must be able to qualify for this option before proceeding with us!
A Modification May Be An Option If:
- You are ineligible to refinance
- You are facing a long-term hardship
- You are several months behind on your mortgage payments or likely to fall behind soon
Let Our Loan Modification Specialist Help
We can be a valuable resource when you’re facing foreclosure. Here’s how we can help you with a loan modification:
Understanding your situation: We will assess your financial situation and determine if a loan modification is the right course of action for you. We can also help you gather the necessary documents to prove your hardship.
Negotiating with your lender: Our foreclosure specialists are familiar with the loan modification process and can advocate on your behalf with your lender. They can explain your situation and work to get you the best possible terms.
Completing the paperwork: The loan modification application process can be complicated. A foreclosure specialist can help you fill out the paperwork correctly and ensure that your application is complete.
Keeping you informed: The loan modification process can take time. A foreclosure specialist can keep you updated on the progress of your application and answer any questions you may have.
It’s important to be aware of foreclosure scams as well. Be wary of anyone who promises to save your home for a large upfront fee. Legitimate foreclosure specialists will work on your behalf and won’t ask for any money upfront.
Here are some resources that can help you find a legitimate foreclosure specialist:
The Department of Housing and Urban Development (HUD): https://www.hud.gov/counseling
The National Foundation for Credit Counseling (NFCC): https://www.nfcc.org/
What Are the Benefits of This Service?
Resolve your delinquency status with your mortgage company
May reduce your monthly mortgage payments to a more affordable amount
Change the original terms of your mortgage permanently, giving you a new start
Less damaging to your credit score than a foreclosure
Stay in your home and avoid foreclosure
