Do i need a Loan Rate Modification?
I live in San Diego and am falling behind on payments to my mortgage. I am in sales and have seen my income start to decrease. Im not to knowledgeable in Real Estate, but my Loan Rate is about to adjust and i have heard about these Loan Rates Modifications. Will this help in my situation?
Loan Modification
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Comments
only YOU and YOUR lender can solve your problem.
call them and explain !!
dont call that telemarketer above me !!
Matt,
Thanks for writing in. Banks are now advertising loan modifications and clients are now have the ability to stop foreclosure. If you try to do it yourself it is a time comsuming process and the banks only offer what will make them money in the long run.
Some examples are lower payment, lower rate, fixed rate, principal reduction, or a fixed rate for a longer term. You must have a hardship, certain debt to income ratios, and follow all guidelines to complete the process. We are able to work with th mitigation department directly and have direct relations with the department. Please go to for more answers and forms to see what type of qualification, short refinance, forebearance, or deed in lieu of foreclosure. I will be happy to answer all of your questions. Please contact me the Debt Expert at 6198949339 or email
Thanks and best of luck to you and your family.
Jenny Talasazan
PS We can also help you with getting out of the credit card mess to. We do three and four year programs!
Matt, stop the noise as there are too many making offers but none are offering the right answer. You need to go straight to your current company servicing your loan. Get on the phone to them ASAP and see if they won’t do a no-cost refinance at their lowest interest rate and make sure it is a fixed rate. If the payment is still a bit uncomfortable to you, see if they won’t lengthen the terms of the loan (for example, 40-yr loan instead of a 30-yr loan).
Whatever loan rate modification you get, make sure they spell it out, put it in writing and give you an amortization schedule consistent with the modification. The amortization schedule should take you from the present all the way through to your last payment. That way you can see what to expect throughout the term of your loan.
Right now, the nation is sympathetic to those in this situation. If your loan is with one of these recipients of the bailout, they are EXPECTED to work with you since loans of your type are the reason they received monies from this bailout in the first place! No loan company is in the business of taking on inventory, so they do not want to see you in foreclosure. Get on the phone now! Call them and get help quickly!
it might call your servicer see what they got to offer…