Mortgage Loan Modification

How A Mortgage Loan Modification Can Save Your Home

Millions of Americans are today facing the horrible prospect of foreclosure, unaware that that there are options available that will save their home, without having to declare bankruptcy.  One of the best options available today is Loan Modification.

When Loan Modification is done correctly, by a good company, you can have not only your payments brought current, if you are behind, but have them lowered as well.  The ultimate goal is to have the principal balance lowered too, so that you are no longer underwater on your mortgage.  Then, when the market turns around, you won’t have to wait for years to be in an equity position again.

In this financial environment, banks are bending over backwards to perform loan modification – it is much less costly for them than foreclosure.  This puts you at an advantage (though the banks would prefer you didn’t know this). It is within your rights and interest to negotiate the best possible loan modification terms possible.

At this point, you may wonder if you should do it yourself, or hire a mortgage loan modification company to represent your interests.  The fact is, an aggressive loan modification company will have a good real estate attorney on staff or retainer, and they will know how to play absolute hardball.  When you do it yourself, the banks will simply try and push you around, and even threaten you.  When they are faced with a solid legal team of cutthroat attorneys who don’t mess around, they will become as meek as lambs.