Posts Tagged ‘loan modification frequently asked questions’

The Truth Behind A Bank Of America Loan Modification!

Tuesday, July 14th, 2009

bofa-negotiator3

Bank of America Loan Modification Finally Gets Streamlined

 

On March 14, 2009, President Obama announced to the American public that a program would be put in place to help struggling homeowners achieve affordable and sustainable mortgages. This program was called the Homeowner Affordability and Stability Plan.

 

What most Americans don’t know is that when President Obama announced this plan, Bank of America and every other lender and mortgage servicer in the country was also hearing about it for the first time. The result of Obama’s announcement was overwhelming, flooding mortgage servicers with requests for “Obama’s Plan” to modify mortgages to a promised 2% interest rate.

 

Bank of America Loan Modification in particular was by far the most inundated. Servicing millions of homeowners, Bank of America scrambled to deal with the onslaught of customers in default or facing foreclosure. The result thus far can best be described as a radical departure from what Obama promised the American public. Not only have modifications from Bank of America been rather difficult and time-consuming, many of the loan modifications that have been produced between March and July seemed to be computer generated, did not deal with individual hardship, and set millions of borrowers up for what is known as “payment shock”.

 

“Payment shock” is when a forbearance or modification plan is not permanent and at the end of the plan, reverts to a mortgage product that will raise the payment, possibly above the original PITI payment.

 

Adjust My Loan is proud to announce that just last week, we received a call from the first Bank of America Loan Modification negotiator. We know he is the first because he called from a temporary number, at a temporary desk, and he filled us in on the truth behind Bank of America’s ridiculously long turn around times.

 

This call was incredibly significant as the negotiator explained to us not only why Bank of America has put the reliability of assisting default borrowers in a computer program, but also how Bank of America has struggled since March 14th to create a staff to handle the immense number of requests for loan modification. In short, they simply did not have the man power, the software, a centralized office, or the knowledge on how to process Obama’s plan.

 

As of July 10th, the Bank of America Loan Modification Department has a staff of negotiators out of Plano, Texas in place to address all of those issues. Now, Bank of America negotiators can go over the terms of loan modification, assess what is affordable in terms of monthly payment, and go over the specific rules and/or guidelines that investors are looking for to approve loan modifications. This news is incredibly exciting because it means that now Bank of America has a trained staff to deal with the intricacies of every mortgagor’s specific and mutually exclusive hardship situation.

 

No two mortgages are the same and the same can be said for hardship situations. Until July 10th, Bank of America was processing loan modifications by simply putting income figures into a web-based software system that would automatically generate a loan modification and in many cases, the outcome was not only not affordable, but completely contrary to the hardship situation.

 

We here at Adjust My Loan are already beginning to see the outcome of this wonderful news. Modifications through Bank of America are coming through with more comprehensive results, with sustainable &  affordable payments, and in a much more timely manner. For more information about Bank of America, loan modifications, and the Homeowner Affordability and Stability Plan, visit www.adjustmyloan.com or simply give us a call! We would love to hear your feedback on this exciting news!

 

 

1-800-557-7573

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Making Homes Affordable Plan: Government Loan Modification Program

Thursday, March 5th, 2009

making-homes-affordable

 

Government Loan Modification Program

 

Details of President Obama’s stop foreclosure plan “Making Homes Affordable” was released yesterday (March 4th, 2009) and so begins the journey of Government Assisted Loan Modifications!  At www.AdjustMyLoan.com we have always been a fan of the Government subsidizing lenders, servicers, and investors for completing loan modifications and think this is a step in the right direction but is it enough?  Below we outline some facts of the new plan as well as give you a quick video to watch.  About 7-9 million struggling homeowners should qualify for help according to the plan but in won’t help many in states like Arizona, Florida, and California where home prices have declined so much that homeowners are underwater over and above the plans 105% qualifying mark.  Also, one noticeable missing piece is a subsidized “Principal Balance Reduction” measure that would reset home values to current market rates!  Maybe the future bankruptcy “Cram down” legislation that is trying to get passed right now will force lenders to enact voluntary programs to write down negative equity!

 

 

HOMEOWNERS BEWARE…even though this plan is subsidized by the Federal Government it is not a forced program.  Lenders can choose to work within the guidelines of the plan or not so remember that your bank still has their best interest at heart and not yours.  They could still put you into a loan modification program that does not necessarily have the best loan terms available.  By educating yourself on your options or getting professional representation you could walk away with a much better Loan Modification than if you just call your lender directly without first devising a plan.

 

Now let’s talk about loan modifications:

 

How Will The Modification Part Of The Plan Work?

 

In summary, participating servicers will (in order):

 

•Determine that a loan meets the minimum eligibility criteria (owner occupied, originated before January 1, 2009, UPB equal to or less than $729,750). If yes:

 

•Obtain sufficient income information to determine if the borrower has a front-end debt-to-income (DTI) ratio of 31%or greater (verbal income may be accepted for initial evaluation subject to verification prior to final approval). If yes:

 

•Capitalize (add to the loan amount) accrued interest, past due taxes and insurance, delinquency charges paid to third parties (e.g., for inspecting the property), and escrow advances by the servicer - but not late fees or other default fees charged by the servicer;

 

•Determine how much of an interest rate reduction is required to get the borrower’s mortgage payment to 31% DTI, and if the DTI still exceeds 31% at the rate floor of 2%, modify the loan in other respects specified in the Guidelines;

 

•Apply a Net Present Value (NPV) test to determine if modification (including the incentive payments) provides the investor with a better financial outcome than foreclosure. If yes:

 

•Put the borrower on a trial modification at the new interest rate and payment for three months.

 

•If the borrower is current at the end of the trial modification period, the servicer will execute a modification agreement that includes escrows for taxes and insurance even if the prior loan was not escrowed.

 

At AdjustMyLoan.com it is business as usual.  We are helping more and more homeowners negotiate a reasonable loan modification with their lenders and continue the fight to save as many homes as possible from foreclosure.  Many homeowners have questions about this new plan but only time will tell if it really works or not.  At the end of the day, it still is a voluntary plan that only affects mainly Fannie and Freddie loans and has strict qualifying measures that could bog down the program.  If you are a homeowner trying to navigate your way towards a loan modification, please call our Loan Modification Experts at 1-800-557-7573 and recieve a FREE LOAN MODIFICATION CONSULTATION.

 

INFO ON THE MAKING HOMES AFFORDABLE PLAN

Fact Sheet

Summary Of Guidelines

Summary Of Modification Guidelines

 

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Homeowner Affordability and Stability Plan FAQ’s

Friday, February 20th, 2009

affordability and stability plan

 

Questions and Answers for Borrowers about the Homeowner Affordablity and Stability Plan

(The Following Is Taken From http://www.treas.gov/)

 

 Borrowers Who Are Current on Their Mortgage Are Asking:

1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?

 

Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.

 

2. I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

 

Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.

 

3. How do I know if I am eligible?

 

Complete eligibility details will be announced on March 4th when the program starts. The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.

 

4. I have both a first and a second mortgage. Do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

 

As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.

 

5. Will refinancing lower my payments?

 

The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable payments that are sustainable for the life of the loan.  Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in
their payments.  Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate.  These borrowers, however, could save a great deal over the life of the loan.  When you submit a loan application, your lender will give you a “Good Faith Estimate” that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan.  Compare this to your current loan terms.  If it is not an improvement, a refinancing may not be right for you.

 

6. What are the interest rate and other terms of this refinance offer?

 

The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment.  All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate.  The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender.  Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans will have no prepayment penalties or balloon notes.

 

7. Will refinancing reduce the amount that I owe on my loan?

 

No. The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans. Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe.  However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.

 

8. How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?

 

To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.

 

9. When can I apply?

 

Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.

 

10.What should I do in the meantime?

 

You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:

 

· information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources
· your most recent income tax return
· information about any second mortgage on the house
· payments on each of your credit cards if you are carrying balances from month to month, and
· payments on other loans such as student loans and car loans.

 

 

Borrowers Who Are at Risk of Foreclosure Are Asking:

 

 

1. What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?

 

 

The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current.   By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.

 

2. Do I need to be behind on my mortgage payments to be eligible for a loan modification?

 

No.  Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default.  This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.

 

3. How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?

 

In general, you may qualify for a mortgage modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.

 

4. I do not live in the house that secures the mortgage I’d like to modify.  Is this mortgage eligible for the Homeowner Affordability and Stability Plan?

 

No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible.  If you used to live in the home but you moved out, the mortgage is not eligible.  Only the mortgage on your primary residence is eligible.  The mortgage lender will check to see if the dwelling is your primary residence.

 

5. I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?

 

Yes. Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.

 

6. I have two mortgages. Will the Homeowner Affordability and Stability Plan reduce the payments on both?

 

Only the first mortgage is eligible for a modification.

 

7. I owe more than my house is worth. Will the Homeowner Affordability and Stability Plan reduce what I owe?

 

The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford.  Lenders are likely to lower payments mainly by reducing loan interest rates.  However, the program offers incentives for principal reductions and at your lender’s discretion modifications may include upfront reductions of loan principal.

 

8. I heard the government was providing a financial incentive to borrowers.  Is that true?

 

Yes.  To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan.  The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt.  Borrowers who pay on time for five years an have up to $5,000 applied to reduce their debt by the end of that period.

 

9. How much will a modification cost me?

 

There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan.  If you wish to get assistance from www.AdjustMyLoan.com visit their website or call their toll free number 1-800-557-7573.  They do not charge upfront fee’s for their loan modification program.

 

10. Is my lender required to modify my loan?

 

No.  Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis.  But the government is offering substantial incentives and it is expected that most major lenders will participate.

 

11. I’m already working with my lender / housing counselor on a loan workout.  Can I still be considered for the Homeowner Affordability and Stability Plan?

 

Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.

 

12. How do I apply for a modification under the Homeowner Affordability and Stability Plan?

 

You may not need to do anything at this time.  Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria.  After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks.

 

If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or www.AdjustMyLoan.com to see if you can participate in the program. Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program.

 

13.What should I do in the meantime?

 

You should gather the information that you will need to provide to your lender on or after March 4, when the modification program becomes available. This includes

· information about the monthly gross income of your household including recent pay stubs if you receive them or documentation of income you receive from other
sources
· your most recent income tax return
· information about any second mortgage on the house
· payments on each of your credit cards if you are carrying balances from month to month, and
· payments on other loans such as student loans and car loans.

 

14.My loan is scheduled for foreclosure soon. What should I do?

 

Contact your mortgage servicer, or for professional Loan Modification representation, complete the submission form at www.AdjustMyLoan.com or call:

 

AdjustMyLoan Contact Number

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UNDERSTANDING ARIZONA’S ANTI-DEFICIENCY LAW

Thursday, January 22nd, 2009

arizona-anti-deficiency-law

 

 

ADJUSTMYLOAN.COM EXPLAINS ARIZONA’S ANTI-DEFICIENCY LAW

 

 

Okay…first a quick disclaimer:  AdjustMyLoan.com (Arizona Loan Modification Experts) is not giving you legal advice, stop foreclosure advice, or creating any type of client-Attorney relationship.  This is informational only and we suggest you speak with a trained real estate / tax attorney about your specific situation and the rules / laws in Arizona as they pertain to Arizona’s Anti-Deficiency Statutes.  Now, on to the good stuff.

 

When a homeowner purchases residential property in Arizona and defaults on their loan(s), their lender(s) have certain remedies they can pursue.  They can sue the borrower directly or conduct either a Judicial or Non-Judicial foreclosure.  Since Arizona is a Trust / Deed state, in most cases lender(s) file for foreclosure (sending you a Notice Of Default) and conduct a Trustee Sale (non-judicial foreclosure).

 

In some states, when a home is sold at a foreclosure sale and the amount it sells for is not enough to cover the underlying debt secured by the real estate, the lender can come after the homeowner for the Deficiency.  Arizona has two “Anti-Deficiency” statues that will often apply to loans secured by residential real estate that can protect you from this happening!  The first one applies to mortgages that are foreclosed on judicially (this practice is rarely used anymore but if you want to learn more, see A.R.S. 33-729(A)).  The second Anti-Deficiency statute applies only to deeds of trust when foreclosed via a trustee sale (see A.R.S. 33-814(G)).

 

 

This is the anti-deficiency rule most homeowners care about and the one we will focus on.

 

In order to be protected under this statute, you must have residential property that is used for single-family or dual-family dwelling, and on 2 1/2 acres or less.  (Commercial properties and Multi-Family units larger than a duplex are not protected under this statute)  Next, you want to understand what kind of money you borrowed.  Answer this question; Did the money you borrowed pay for all or part of the home you purchased?

 

 

PURCHASE MONEY

 

If all or part of the money you borrowed was used to purchase the property, NO DEFICIENCY will be available except in the case of voluntary waste (A.R.S. 33-729(A)).  Voluntary Waste is when you damage the home and diminish the value (so if you are short selling your home or letting it go to foreclosure, don’t hire a salvage company to come gut the property…you can be held liable for all damages!!!)  We consider money borrowed to purchase the property as “Purchase Money” because you basically went to a bank and borrowed money to buy a home and the home itself was the only security for the loan!

 

Refinance loans also fall under this protection as long as you did not get a “Cash Out Refi”.  The law is a little unclear if a lender can actually come after you if you did a “Cash Out Refi”  because the Anti-Deficiency protection under A.R.S. 33-729 (A) applies to loans used for payment of all “or part” of the purchase price!  (See Bank One v. Beauvais, 188 Ariz. 245, 937 P. 2d 809 (App. 1997))  So if you did a “Cash Out Refi” and you are being sued for a deficiency, you may have a chance….but probably not!

 

 

NON PURCHASE MONEY

 

If the money you borrowed was not used to purchase the property “Non-Purchase Money“, then you might have a problem (Home Equity Lines of Credit fall under this type of money).  Your lender can choose to either sue you directly on the note and waive security of the mortgage or deed of trust, file a Judicial Foreclosure and after the sale sue you for any deficiencies, or just continue with a Trustee Sale.  If they just continue on with the Trustee Sale, then you are in the clear and should be protected against further judgements (See A.R.S. 33-814 (G)).  If the lender decides to file a Judicial Foreclosure they will file a lawsuit and seek a judgement foreclosure on the mortgage or deed of trust.  This process is expensive and time consuming (sometimes lasting up to 12 months).  If this happens, the homeowner will have up to 6 months from the date of the filing to bring the loan current, but if they fail to do so, the property will be sold at a sheriff’s sale and the lender will have up to 3 months to sue for the deficiency.  The amount of deficiency is typically limited to the difference between the total amount owed and the fair market value of the property (not necessarily the auction price).  Lastly, the lender can just sue on the note, forgoing any security in the property.  They would do this if you have little or no equity, have other collectible assets, and they do not want to wait up to a year for a Judicial Foreclosure to work its way through the system.  THIS IS THE ONE YOU NEED TO BE WORRIED ABOUT AND IF YOU DO GET SUED…HIRE AN ATTORNEY IMMEDIATLY!

 

FHA, VA, AND HUD LOANS

 

These type of loans have different collection rules and can result in action against the person.  If you have these type of loans, we suggest you get real proactive real quick when working with the lender(s) and if you do get in trouble, hire an attorney to represent you!

 

 

SUMMARY OF ALL THIS LEGAL MUMBO JUMBO

 

Arizona is a Trust / Deed state meaning we use Deeds of Trust to secure residential real estate.  If you have a single family or duplex home on 2 1/2 acres or less, and your loan is “Purchase Money”, you are protected from deficiency regardless if the lender uses a trustee sale or judicial foreclosure.

 

If your loan is NOT “Purchase Money” you may be liable for any deficiency if your lender uses a Judicial Foreclosure, or waives the deed of trust and sues directly on the note.  If your lender decides to do the traditional Trustee Sale, you are protected from further deficiency judgements!

 

 

CAN AN ARIZONA LOAN MODIFICATION GIVE ME DEFICIENCY PROBLEMS?

 

No, an Arizona Loan Modification will not trigger a deficiency judgement because you are not selling the property, you are just recasting the mortgage.  AdjustMyLoan.com helps homeowners audit, package, propose, and negotiate loan modifications on their behalf.  In every loan modification proposal we build, we ask for a reduction in the principal amount owed  (Principal Balance Reduction).  Many homeowners are “upside down” in their mortgage(s) and owe as much or more than their home is currently worth so we attempt to reduce the amount owed to reset the loan back to current market values.  If approved by your lender(s), this Principal Balance Reduction can trigger a tax event and the lender could issue a 1099(c) in the amount that was written off, BUT WILL NOT AFFECT OR CAUSE A DEFICIENCY EVENT!  We ask all lender(s) to waive their right to 1099(c) our clients as part of the acceptance of our proposals…in most instances this works and the lender absorbs the tax ramifications as part of the deal!

 

 

ADJUSTMYLOAN.COM “ARIZONA LOAN MODFICATION EXPERTS” WANTS TO EARN YOUR BUSINESS!

AdjustMyLoan.com is a national loan modification company based out of Phoenix, Arizona.  Our Loan Modification Experts want to educate homeowners on any “Stop Foreclosure” options available to them and teach them how a loan modification can help them avoid foreclosure, lower their monthly mortgage payment, and maintain their credit.  We are a member of the Better Business Bureau and have many referrals and testimonials to prove our business ethics.  We offer FREE LOAN MODIFICATION CONSULTATIONS to see if you qualify for any Arizona Loan Modification Programs and have a tracking system so you can follow your loan modification progress from start to finish.  If you are interested in learning how a loan modification can help you and your family, call the phone number below today!

 

 

ARIZONA LOAN MODIFICATION 

 

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LOAN MODIFICATION FREQUENTLY ASKED QUESTIONS

Sunday, January 11th, 2009

loan-modification-questions

 WWW.ADJUSTMYLOAN.COM ANSWERS THE MOST FREQUENTLY ASKED LOAN MODIFICATION QUESTIONS!
 

WHAT IS A LOAN MODIFICATION?

Sometimes called Loan Restructuring or Mortgage Modification, a Loan Modification is an adjustment to your existing loan by your lender(s) as a response to your long-term inability to pay your mortgage.  Loan modifications typically involve an adjustment of your interest rate, an extension of the length of the term of the loan, or a principal balance reduction all resulting in LOWER MONTHLY MORTGAGE PAYMENTS!  A lender would choose to modify your loan if the cost of doing so would be less than the cost of default and foreclosure.  AdjustMyLoan.com specializes in Loan Modifications and forbearance agreements.

 

CAN I ATTEMPT A LOAN MODIFICATION MYSELF?

Although in theory you could do your own loan modification, consider this: Do you have the experience, time, legal understanding, and energy to take on your own negotiations?  Your lenders are never going to offer you the best loan terms right up front!  In fact, they are going to push you in a direction that is in their best interest. 

The loan modification experts at AdjustMyLoan.com audit, package, propose, and negotiate your Loan Modification to get you the absolute best loan terms available.

 

WHAT QUALIFIES ME FOR A LOAN MODIFICATION?

While there are some basic Loan Modification qualifications, each lender has their own requirements that continue to change.  Typically, if you are stuck in a mortgage with a high interest rate, have a verifiable hardship that is preventing you from paying your mortgage, and provable monthly income you will qualify for most lender programs. 

What if I am current?

     Being behind on payments definitely helps motivate your lenders, however we have accomplished loan mods for homeowners with current mortgage payments.

Both primary and investment properties could qualify and your best bet is to call the loan modification experts at AdjustMyLoan.com for a Free Loan Modification Consultation:  1-800-557-7573 toll free or 480-968-5626 local.

 

HOW LONG DOES THE LOAN MODIFICATION PROCESS TAKE?

In most instances, a loan modification takes 60-90 days…but it could take longer, especially if we are requesting a principal balance reduction and your lenders legal department gets involved.  By hiring professionals like those found at AdjustMyLoan.com you are assuring the fastest resolution possible.

 

WHY WOULD A BANK ACCEPT MY REQUEST FOR A LOAN MODIFICATION?

You lender(s) would choose to accept a loan modification proposal if the cost of doing so was less than the cost of short selling or foreclosing on your home.  In most cases a loan modification can be a win-win situation for both you and your lender…and a proper proposal is the key to conveying your situation.

Loan modification requests are paperwork intensive, and AdjustMyLoan.com’s Loan Modification Negotiators build proposals specific to your situation.

 

WHAT IS PREDATORY LENDING?

Predatory Lending is a term that refers to various illegal and immoral activities many lenders engage in when originating a home loan. Examples of predatory lending include equity stripping, asset-based lending, non-disclosure, and the notorious interest rate bait and switch.

These practices are a major cause of foreclosures, poor credit and unmanageable financial burdens. A Forensic Loan Audit by a trained professional can uncover these predatory violations and AdjustMyLoan.com conducts these audits on every qualified file!

 

WHY SHOULD I CHOOSE ADJUSTMYLOAN.COM OVER OTHER LOAN MODIFICATION COMPANIES?

AdjustMyLoan.com is a nationwide loss mitigation company based out of Phoenix, Arizona that specializes in loan modifications and forbearance agreements. We are a member of the Better Business Bureau and we have hundreds of happy clients and testimonials. In addition, we offer ongoing training for our professional staff and a tracking system so you can follow your Loan Modification progress. Our Loan Modification Blog is packed with loan modification news, do-it-yourself loan modification tips, and current loan modification programs. Lastly, we charge no upfront fee for our loan modification service and have a solid money back guarantee. If you are interested in a FREE LOAN MODIFICATION CONSULTATION, please visit our website www.AdjustMyLoan.com.

 

ADJUSTMYLOAN.COM

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