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There are many changes in today’s financial world that leaves a big gap of uncertainty concerning you and your home. In today’s troubled economy, it tough to rest assured everything will fall into place as needed. Many families are going from dual income households to a single income. With this changing economy and changes in personal finances many individuals are either in jeopardy of losing their home to foreclosure or are faced with desperate choices.

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Before you are ready to default on your home loan there are viable options that can help you save your home, and get you back on track. If you are able to make regular payments, but not afford your soon increasing ARM, or suffer from a recent loss of income, mortgage modification can help keep you from foreclosure. Mortgage modifications are for people that might be in danger of losing their home to foreclosure or on the brink. A mortgage modification primarily targets those in peril; individuals that are having a difficult time making their payments but are still able to make some sort of regular monthly payment

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What is a Loan Modification? In simplest terms, a loan modification restructures the terms of a loan without actually refinancing the property it secures. Investopia defines a loan modification as an agreement between the lender and the borrower which stipulates a long term relief from untenable loan terms. Modification of a loan applies to the terms governing the interest rate, the amount of the monthly payment, and in some cases also the length of the loan. Skilled home modification legal specialists work on behalf of borrowers with their lenders to achieve the relief of a home loan modification via drastically reduced mortgage payments. Get Help - Save Your Home!

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Are you a good candidate for Loan Modification?Any homeowner currently stuck with an adjustable rate mortgage that has been or will be adjusting upwards is a premier candidate for loan modification. Millions of Americans were lured into signing up for interest only mortgage loans and while initially the loan was low and affordable, the double impact of rising interest rates and the inclusion of principal into the payment have caused borrowers to see their payments triple or even quadruple! The temporary one or two month forbearance your lender offers is a Band-Aid but not a bona fide solution to the problem that will get worse and the only way to halt the skyrocketing house payment and keep your credit intact at the same time is with the help of a loan modification.

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What happens during a Loan Modification?During a loan modification the terms of your mortgage are renegotiated to bring the interest rate down to a percentage that fits into your budget and the monthly payment no longer presents a severe strain on your ability to meet your other financial obligations. Why don’t I simply ask my lender for a Loan Modification myself? It would be great if borrowers and lenders had the ability to negotiate loan modifications, but the problem is two-fold: many lenders simply lack well trained loan officers who know how to negotiate and set up a loan modification in the first place; secondly, some lenders are more interested in recouping any potential losses up front via a foreclosure than they are in keeping a customer for a long period of time with the help of a renegotiated mortgage. In both cases it is the involvement of legal specialists that provide borrowers with the results they desire

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How long is the Loan Modification process? You will see relief in as little as two weeks or a couple of months if FHA guaranteed loans are involved. In the meantime, lenders are amenable to halting foreclosure proceedings and even the sale of a home! The added benefit of this process rests in the fact that you may be able to skip one mortgage payment and get back on your feet with your budget. Since the majority of reputable lenders prefer to have you remain a customer for life than selling off your home at a loss and thus not realizing the profit of the interest payments, the process is usually not delayed.

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What can we do?We renegotiated your loan to bring the interest rate down to a percentage that fits into your budget and the monthly payment no longer presents a severe strain on your ability to meet your other financial obligations. Are you behind on your mortgage?Facing foreclosure?Unable to refinance?A mortgage loan modification may be the answer!A mortgage loan modification can transform your existing loan into something you can work with.

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MY name is Zarak Khan. I help people stop foreclosure by working with people who are behind on their mortgage payment. I can either work a loan modification which will let you keep your home or do a short sale or short refinance in which case you would have to sell your home. .I am living in Chicago .My hobbies are financial deals. Right now we are helping people by loan modification program. this really help thousand of people. Thanks & Regards Author ZARAK KHAN Email: <a href=””> Home Loan Modification</a>

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