Need Help with Your Mortgage?
With a mortgage loan modification, also known as a loan workout, the lender agrees to change the terms of a mortgage in response to a borrower's inability to repay the loan usually due to financial hardship. This mortgage help is designed to make the mortgage more affordable for the borrower so that the loan does not go into default and foreclosure and bankruptcy can be avoided.
Types of mortgage help from lenders:
- Refinance the loan
- Reduce the loan's interest rate (APR)
- Allow the borrower to skip payments and add the difference to the principal
- Reduce the principal due on the loan
- Extend the loan term
Benefits that a mortgage loan workout helps the borrower:
- Avoid home foreclosure, or a declaration of bankruptcy
- Mortgage payments made more affordable
- The borrower's credit rating is preserved
Click here for more information on loan modifications or to speak to a loan modification specialist, please call Toll Free 1-888-250-5227
Loan Workouts Help
- Lower Interest Rates
- Lower Mortgage Payments
- Avoid Refinancing
- Avoid Bankruptcy/ Foreclosure
- Avoid Late Fees
Getting a loan workout may be the mortgage help you need to stop foreclosure or reduce mortgage payments to better fit your current financial situation.
