What’s a loan modification?
A process whereby you ask the bank or lender to adjust your rates. This usually happens when you had some unexpected life circumstance that changes your ability to pay your mortgage. An accident, down-sizing at your company, losing your job, unexpected medical bills, etc. With the right documents presented to the bank in a timely manner, the banks Loss Mitigation department may allow a modification of the loan to lower your monthly payments.
Who does a loan modification?
Traditionally a lawyer may do so as part of foreclosure defense, however, a Broker may assist you in filing the documents for a fee.
Call us today to evaluate your case for a loan modification before you start putting together all the documents the bank or lender needs in order to consider you for a loan modification.
Call us today at (786) 325-2222.