What is a loan modification?

A loan modification is a process where a mortgage is restructured, and both the lender and homeowner are bound by the new terms. Some common modifications include lowering the interest rate, reducing the principal balance, fixing adjustable interest rates, increasing the loan term, forgiving of payment defaults and fees or a combination of these.

What's the point?

Loan modifications have several purposes, one is to keep homeowners in their home and prevent foreclosure. This, in turn, can help strengthen local areas where foreclosure rates have been high. Loan modifications can also provide higher returns to investors than a foreclosure might give them.

Is loan modification for me?

There are several requirements you must meet to be eligible for a loan modification, but if you answer yes to the following questions, then call us today at (877) 359-8660.

• Did your loan originate on or before Jan 1 2009?
• Have you made at least three late payments?
• Has your income decreased since the time of your loan or have your housing expenses increased?
• Is your primary residence the home for which you are having trouble paying?

If you answered yes to the above questions, or if you are unsure, call (877) 359-8660 today or fill out our online form.

I think I need to speak to someone about a loan modification, where do I start?

You can start by calling (877) 359-8660 or fill out our online form and we will get back to you. We have locations for loan modifications in San Dimas, and loan modifications in El Monte.