Mortgage Assistance Group

A: A loan modification is a change that is made to a mortgage loan in the form of a longer term, lower interest rate or principal reduction. They can be temporary or permanent and for the life of the loan term.

A: You may inadvertently be playing with fire. Working with your lender is encouraged over doing nothing however we have years of experience, the time and resources, and relationships to ensure we get the best results available.

A: Attorneys send us their most difficult files. An attorney practices and interprets laws but did not complete years of education to negotiate on the telephone with lenders. We have an on staff attorney for this very reason however our negotiators are the real experts with respect to make the "numbers" work for you.

A: Call us for a FREE loan modification consultation so that we may did a little deeper. There is still a great chance you are eligible.

A: Our intention is ultimately to save your home and this is only done when we bring your payment down to within your income parameters. Financially speaking, experts agree that your monthly mortgage loan payment should not be more than 31% of your gross monthly income. This is the new payment that most lender target when considering your full financial profile. If the lender can realize less of a loss by modifying your loan vs. foreclosure then a loan modification will be granted.

A: On average a loan modification will take 60-120 days. We have seen them completed in 30 days and as long as 14 months. The time frame depends on several factors including how many other files are ahead of yours, how quickly you can provide us with proper documentation when requested and the lender we are working with.