A loan modification will take the mortgage you now have and change the interest rate and payment requirements in order to achieve a fixed rate. A change in rates and payments does not result in the need for a new closing, legal fees, survey, appraisal, or taxes. In contrast, if you "refinance" a loan you'll be required to have a closing and forced to pay a variety of fees and taxes.

According to the Center for Responsible Lending, citing a Joint Economic Committee Report, foreclosure costs a bank more than $50,000 on average per property. Foreclosure filings on a month-to-month basis in 2007 compared with 2006 were up by as much as two-hundred percent in the hardest hit markets. Banks would much rather work with Loan Modifications and mitigate your loan rather than foreclosing.

Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession of the property and jeopardizing any possible equity that the homeowner may have in the home. Loan Modifications help homeowners avoid foreclosure by negotiating with your bank and allowing you to stay in your home.

The goal of loss mitigation is to work out an agreement between the homeowner and the lender that will stop foreclosure proceedings permanently. This allows the homeowner to stay in their home and protects their credit history by giving them a new mortgage payment they can afford.

Loan Modifications specializes in resolutions of mortgage delinquencies or home foreclosure claims on behalf of you, the homeowner. We perform a detailed financial analysis and work with you to determine your best alternatives. We review your lenders loss mitigation policies and your state's foreclosure law to make sure that we give you the best service within the context of your situation. By working with you and your lender we can tailor a resolution to meet your specific criteria and financial circumstance. Loan Modifications is able to do all this quickly and effectively because or our experienced network of professionals.

Time is of the essence when you are behind on house payments. Time is definitely not your friend in this situation. Each day that passes makes it that much harder to get a work out agreement with your lender that you can live with. The home foreclosure process can take anywhere from a few weeks to many months, depending on your state law and the method of foreclosure your lender chooses to use. Loan Modifications can only help you once you are ready to help yourself.

Anywhere from 2 days to one month. This depends on the stage of foreclosure you are in and your financial position. Typically it takes a few weeks to complete a work out agreement and stop foreclosure proceedings.

Up until the foreclosure sale occurs there is still hope. If a sale date for your house has been set you need to act fast. Loan Modifications has stopped sales set for the next day but this is very risky and some lenders will not agree to it. You're best option is to take action immediately to stop foreclosure before it goes too far.

Loan Modification's fees are based on your mortgage payment amount, and the complexity and urgency of your situation. Our professional loss mitigation consultants will evaluate your case and explain the best options to save your home. We are confident that you will feel that our fees are a bargain compared to the cost of the alternatives. We offer a money back guarantee if we cannot get you a work out agreement with your lender(s) as long as no sale date has been set. You have nothing to lose and everything to gain.

Yes. Most of our clients have experienced this kind of inflexibility from their lenders before calling us. We get your bank to listen to your needs because they know our legal team is not going to take "NO" for an answer. Our team has mitigated thousands of home foreclosure cases. That kind of experience gives us credibility with your lender. Over the years we have developed positive working relationships with key people at most banks all over the country. Our integrity and professionalism have earned us a reputation that allows us to be heard when no one else can get through the red tape. We will use our experience and connections to your advantage in your loss mitigation case.

No. We specialize in out-of-court resolutions of government and non-government mortgage delinquencies or home foreclosure claims for homeowners. These can be FHA, Rural Administration, VA, Freddie Mac, Fannie Mae, or conventional loans which have become delinquent. No matter what your loan is, Loan Modifications can help.

Yes. If you are certain that you cannot afford your home any longer and wish to sell, we can help you to secure a short sale payoff or a deed-in lieu of foreclosure agreement with your lender. Often times these agreements can be arranged at low or no cost to you. Most consumers have many options they are unaware of, so its important that you speak with a Loan Modifications specialist right away.