A loan modification is a permanent change in the mortgage debt.

If a property owner is promptly paying his or her mortgage, it is unlikely that a substantial discount modification will be easy, unless the home owner needs to sell a home desires to move out of state or to buy another home. In this case a short-sale, or discount of the mortgages to the present worth of the home may be possible, but this will generally leave the home owner with little or no cash and damaged credit.

If the property owner is behind on his or her mortgage payments, but can afford to make payments, we can be of service to the home owner.

In these cases, we enter into an agreement with the home owner and first establish what the home is really worth and the owner’s circumstances and real money that can be reliably paid each month if we are successful in negotiating a discount and modification.

Once engaged by the home owner we contact the mortgage lender and provide evidence that we have the authority to negotiate on behalf of the home owner. This is where the work begins.

We must convince the lender that there are no additional resources to pay the mortgage except foreclosure and we attempt to paint a bleak and lengthy scene if the lender even considers that foreclosure is a reasonable move on their part.

We must have the full cooperation of the home owner at this point, as the lender will attempt to contact our client and they will use threats, fear tactics, and other measures that will be emotionally distressing. There are steps that can be taken to prevent the abuse and stress.

There is much more involved and the process may require the utmost of aggressive actions on our part to obtain a negotiated modification and the process will likely take several months, but at all stages we will be there for the home owner through it all.