What is a mortgage loan modification?

The mortgage loan modification process involves a loan modification company negotiating with your current lender on your behalf to avoid foreclosure and/or a refinance. Many people are unable to refinance their mortgage and a loan modification may be the only way to stay in your home. Loan modification companies have much greater success negotiating with a lender than the borrower does because it is their specialty. It is the same reason people use an attorney when they go to court.

What are the Benefits?

• Change the terms of your current mortgage
• Catch up past due payments
• Avoid foreclosure
• May avoid payments for a period of time
• Lowers your current interest rate
• Lowers your current payment
• No appraisal needed

Why a mortgage loan modification?

• Monthly mortgage payment is too high
• Unable to qualify for a refinance
• Late on your current mortgage
• Mortgage rate adjusting
• Mortgage payment adjusting
• Victim of predatory lending
• Suffering a temporary hardship

FreeHomeRefi.com can connect you with a mortgage loan modification company to re-negotiate your current mortgage loan without refinancing.  A mortgage loan modification can benefit a borrower that is currently unable to refinance and cannot afford the current mortgage payment.  A loan modification will give you several options including catching up on past due payments to avoid foreclosure or lowering your monthly payment.

What are my options for my loan modification?

• Negotiate a lower rate and payment
• Roll past due amounts into loan balance
• Account brought up to date immediately
• Avoid payments for 6 months or longer
• Extend your loan for a longer term
• Lower your monthly interest rate
• Lower your monthly payment

Loan modifications are not free.  FreeHomeRefi.com has built relationships with loan modification companies that will be charging you only half of what most companies will charge for this service.  Fees are generally $5,000 to $10,000 for this service.  FreeHomeRefi.com has negotiated with companies so that your fees will be $1,999 to $4,999 depending on the loan amount and situation.  Most loan modification companies will charge an up-front and non-refundable fee ranging from $600 - $1000.  The remainder must be paid prior to closing the loan modification process.

Do you work with attorneys?

Yes, the companies that we work with may offer the services of an attorney.  These companies have attorneys that they use routinely in the loan modification process.  It is not necessary to use an attorney and the option is up to you.  Keep in mind that it will cost more to use an attorney and the chances of success are not necessarily higher if you choose to use an attorney for your loan modification.  Discuss your specific needs with the loan modification company and they will work with you to determine if using an attorney is right for you.