Home

November 10th, 2011 Leave a comment Go to comments

My Homeowners Advocate: What can a loan modification give you?

My Homeowners Advocate , based in San Diego, California, offers homeowners assistance in saving their homes from foreclosure. The firm, which has made a name for itself in the real estate financing industry for highly regarded financial solutions, offers free consultation regarding reductions in monthly payments and interest rates.

Its real estate financial solution options are designed to assist families, lenders, and servicers through short sale processes, short pay refinancing, and loan modifications.

One of the most sought after financial solution options offered by the company is the loan modification or mortgage modification. Loan modification solutions consist of revising the conditions and terms of an active loan. Some of the outcomes that can result from a loan modification solution provided by My Homeowners Advocate include the following:

  • Interest rates can be reduced to as low as 1% for some time, then increasing by 1% per year after a certain period, and finally being fixed in the 5% range for the rest of the loan’s term.
  • Loan terms may be extended for up to10 years or more.
  • Lenders can avail of principal reduction programs where they “write off” a significant amount of the loan balance to reflect the property’s current market value.

While these results are common, the company nonetheless asserts that anything is possible as there are no formal processes or guidelines for loan modifications.

For more information on the possible outcomes of a loan modification, visit www.myhomeownersadvocate.com.

Related Post:

  1. No comments yet.
  1. No trackbacks yet.