LOAN MODIFICATION
Fight AZ Foreclosure
Learn How You Can Avoid Foreclosure and Keep or Sell Your House
CALL US FOR HELP NOW AT 480.366.6027
Real Estate Services Provided By
Integrated Residential Companies, LLC
7025 E. Greenway Parkway, Suite 450, Scottsdale, AZ 85254
7025 E. Greenway Parkway, Suite 450, Scottsdale, AZ 85254
A loan modification is an agreement with your lender to modify the terms of your loan (generally by extending the length of the loan or lowering the interest rate). If your intention is to keep your home and you are able to afford the payments then a loan modification might work for you. Borrowers who are facing a short term financial hardship or have experienced an increase in the amount of their monthly payment are generally good candidates for a loan modification.
Some people who are considering a loan modification fit into the guidelines created by the government's loan program which was released earlier this year. Others will have to consult their lender to find out if they qualify.
The basic qualifications are:
The property must be your primary residence
Your mortgage balance (for a single unit) must be under $729,750
Your 1st mortgage must have been originated before January 1, 2009
Your monthly payment must be more than 31% of your income
You must have a mortgage payment that you cannot afford due to a financial hardship that you can document
Your lender can complete a loan modification by reducing your interest rate, extending the term of your loan, modifying the terms of your loan to include a balloon payment or, in some rare cases, forgive a portion of the principle.
Some homeowners cannot obtain a loan modification through their lender with this program - especially people who own investment or vacation property. In those instances it helps to work with a professional who can negotiate with your lender for you. If you are interested in speaking with one of our professionals please contact us today. We can assist you in reviewing your options and deciding which foreclosure avoidance option is best for you.
Some people who are considering a loan modification fit into the guidelines created by the government's loan program which was released earlier this year. Others will have to consult their lender to find out if they qualify.
The basic qualifications are:
The property must be your primary residence
Your mortgage balance (for a single unit) must be under $729,750
Your 1st mortgage must have been originated before January 1, 2009
Your monthly payment must be more than 31% of your income
You must have a mortgage payment that you cannot afford due to a financial hardship that you can document
Your lender can complete a loan modification by reducing your interest rate, extending the term of your loan, modifying the terms of your loan to include a balloon payment or, in some rare cases, forgive a portion of the principle.
Some homeowners cannot obtain a loan modification through their lender with this program - especially people who own investment or vacation property. In those instances it helps to work with a professional who can negotiate with your lender for you. If you are interested in speaking with one of our professionals please contact us today. We can assist you in reviewing your options and deciding which foreclosure avoidance option is best for you.