Mortgage Loan Modification

Recently the term Mortgage Loan Modification started to become more and more popular. Everyone is talking about it now.

We created this site for you to keep updated on recent developments in reference to home loan modifications. If congress and senate sign new legislation and put in place programs that are supposed to help us homeowners, we will keep you up-to-date. We are putting together a collection of sources that can help you in case you are in need of modifying your loan, writing a hardship loan modification letter, or need to contact your lender. The navigation bar on your left will grow over time and offer you additional links. Take your time and browse the site to find what you are looking for, no matter if you want to 'do it yourself' or need assistance from a loan modification company.

What Is A Mortgage Loan Modification?

A loan modification is a restructured agreement between the borrower and mortgage lender with revised terms and interest rates. Mortgage loan modifications are long-term solutions for borrowers who are considering a foreclosure or bankruptcy. Banks typically agree to modify a mortgage note when they believe the borrower never has a chance repay the current loan with their existing circumstances. Mortgage loan modifications are primarily used as a tool to stop a looming foreclosure.

A large number of clients will find themselves using a Loan Modification Plan to stop foreclosure. If you can currently make your regular payment, but you can't catch up with the past-due amount, we will negotiate with your lender to fold any past-due amounts, including interest and escrow, into the unpaid principal balance. This new amount will be re-amortized over a new period of time.

Or, if you are unable to make payments at this rate, we will negotiate with your lender to extend your loan for a longer period of time, modifying the loan amount to a more affordable level.

In some cases if you are upside down on your mortgage the bank may reduce how much you owe on the the mortgage bringing your payments down and also your interest rate to a more affordable term. Most lenders are offering rates between 2% and 7.5% to get the mortgagee back on the right track of home ownership.

A Loan Modification will change your existing mortgage note and give you a fresh new start in managing your home. Your account will be brought up to date immediately.

Refer to the navigation bar on the left to read more about loan modification, sources of help, mortgage companies that can assist you as well as organizations that established help line and information resources for troubled homeowners.

Our section Refinance Mortgage gives you even more information in case you don't have a hardship and have general (or particular) interest to learn more about how to refinance mortgage loans.

In addition we have a whole section dedicated to FHA Loan Requirements, FHA Loan Rates, FHA Loan Limits, and current mortgage refinance rates. All important topic besides looking into home loan modification.

Our section 'Debt Related Topics' includes a large selection of tools and informative pages when it comes to debt relief and debt consolidation.

And last, but not least, the section 'Reverse Mortgage' gives you plenty of insights in reverse mortgage and what you need to know about it before you would consider it.

If you want information about anything that is not covered here, feel free to contact us and let us know. Enjoy your visit and come back often -- Thank you from loan-modification-tips.com


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Loan Modification News and Updates
This Blog and our site were created for you to keep up-to-date on recent developments in reference to home loan modifications. We also give you updates on Mortgage News.
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Legal Disclaimer for Loan-Modification-Tips.com
Legal Disclaimer for Loan-Modification-Tips.com
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Web Site Policies for Loan Modification Tips and Advice
Information about the site policies at Loan-Modification-Tips.com.