Loan Modification

A loan modification changes the terms of your loan. If you fell behind because of illness, an accident or a job loss (all temporary occurrences) our Loss Mitigation Consultant can negotiate with the bank on your behalf to have the bank modify your current loan.

The easiest type of loan modification is to roll your delinquent payments or delinquent taxes into the existing loan by increasing your payments if you can qualify for the higher payment. The lender can role the arrearage into a new second mortgage with favorable terms.

A loan modification will immediately give you a fresh start in managing your finances and your account will be brought up to date.

You can and should contact your lender directly to arrange a loan modification, however we recommend you open a case here and work with one of our local experts in your area. Our Loss Mitigation Consultants share their experiences and know if you are getting the best plan offered by your lender.