Question: How long will it take for me to renegotiate my home mortgage and my second mortgage loan?

Answer: In most cases it takes 30 to 90 days. However, 120 days is common with lenders who are backed up. The trend lately has been much quicker with negotiated terms and modifications in 30-45 days. It is important to remember that each loan modification is unique and the time varies based on who your mortgage lender is and what your hardship details consist of.

Question: Are My Creditors going to continue to call me?

Answer: One of the first steps with our loan modifications is to contact and notify your servicing lender that we are representing you and demand they cease harassing you. It often takes up to thirty days for your lending company to acknowledge our settlement or loan modification requests.

Question: What if my mortgage company won’t approve us for a loan modification?

Answer: Now more than ever, mortgage companies and banks understand that if they do not provide revised loan terms or settle for a portion of the debt to be paid that they will more likely than not get any money. Banking institutions are aware of the declining housing market. They know that at a certain point, they have to take what they can get. Most of them will settle very quickly, avoiding the cost of foreclosure and recovery actions. In the rare event that a creditor won't settle with our offer, they will return with a counter offer that will be favorable to you. There are many options to prevent foreclosure if you act soon enough.

Question: How do i know if I qualify?

Answer: If you are experiencing any of the following, you may qualify for a federally approved home loan modification: Loss of income, Financial hardship, Upsidedown in home value, death of a partner, recent disability, an ADJUSTABLE RATE MORTGAGE or INTEREST-ONLY payment, or recent unemployment.