FAQ

What is loan modification?
A loan modification is “a permanent change in one or more of the terms of a mortgagor’s loan which allows the loan to be reinstated, and results in a payment the mortgagor can afford.

What is loss mitigation?
Loss mitigation is a division within a bank that mitigates the loss of the bank, or a firm that handles the process of negotiation between a homeowner and the homeowner's lender.

Can't I negotiate with my lender myself?
Yes, you can certainly discuss your difficulties with your lender yourself and attempt to work out a suitable arrangement. However, in today’s economic climate, lenders are overwhelmed and often lack the necessary resources to devote time and effort towards investigating each borrower’s financial situation. You may find your lender uncooperative or inaccessible. Our experience in loan mitigation, as well as our working relationship with the lenders, will ensure that you achieve the best result possible in as timely a fashion as possible.

Can you help me improve my credit score?
The best thing to do to help you improve your credit score is to prevent foreclosure. We are here help. If you are in need of credit repair, beyond foreclosure prevention, we can refer you to reputable companies that can ensure that you receive the help you need.

How long is this going to take?
Working with your lender to reach a suitable arrangement can take anywhere from a few days to several months. It all depends on your current financial position, and whether or not foreclosure proceedings have already been started. Typically, it takes 30-60 days to complete the loan mitigation process.

I'm currently in bankruptcy. Can you still help?
It is possible to help you; it all depends on your unique situation. However; we cannot negotiate with your lender until your mortgage has been discharged or dismissed from the bankruptcy proceeding. We can evaluate your case and explain the best options to save your home. Once the mortgage is out of the bankruptcy, we can help you stop the foreclosure proceedings.

I've already talked with my lender. They just want to get paid. Can you still help me?
Most of our clients have experienced this kind of inflexibility from their lenders before calling us. We will work to get your lender to listen to your needs. Our integrity and professionalism have earned us a reputation that allows us to be heard when getting through the red tape seems impossible. We will use our experience and connections to your advantage.

Should I file for bankruptcy to save my house?
According to the American Bar Association, 96% of homeowners who declare bankruptcy end up losing their home to foreclosure. Bankruptcy is unlikely to help you save your home. There are certain times when bankruptcy may be appropriate; in those cases, we are happy to refer you to a bankruptcy attorney to enable you to make an informed decision that best works for you.

What if I can no longer afford my home? Can you still help me?
If you are certain that you cannot afford your home any longer and wish to sell, relinquishing any equity you may already have in your home, we can help you to secure a "short sale" payoff (contingent on approval by your lender) or a deed-in lieu of foreclosure agreement (again, contingent on approval by your lender). These agreements can be arranged at low or no cost to you.