Loan Modification (For those already LATE on payments)

Lenders are known to be difficult when it comes to loan modifications but if you're behind on your house payments and can show that lowering those payments will make the home affordable again, you have a great chance of getting back on track with your lender. Did you know that lenders benefit at least as much from the process as you do? With the new help for homeowners programs, you can get your late payments made up and have a fresh start with you lender and your lender gets incentives from the government programs by helping you get back on track. Everybody wins.

Loan modification is faster and cheaper. In a foreclosure, there are specific wait times that allow the borrower to get current with their mortgage. It's not uncommon for the process to drag on for almost a year. These delays can cost your lender a good deal of money. A loan modification, on the other hand, takes an average of 30 to 60 days. All they have to do is go over your documents, talk to your loan modification attorney, and see if you qualify. The negotiations are the hardest part, but they don't cost quite as much as foreclosure expenses.

Stop foreclosure proceedings and get foreclosure assistance right away. You and your Loan Modification Attorney will do most of the work and provide most of the documentation. Often, all they have to do is assess your case and decide what kind of mortgage assistance you will need.

It helps keep investors. Foreclosures are as damaging to your lender as they are to you. It may benefit them for now, but with the recent housing bubble, it will eventually weigh them down. Investors don't want to deal with banks that have too many foreclosures on record. If they grant you a loan modification instead, your payments will keep showing up on their records instead of being written as bad debt.

Of course, this doesn't make it any easier to get what you want from your lender. After all, you're still a liability—and it's important to prove that you can get back on your feet. To get the best loan modification deal, you need a good lawyer who knows the what lenders need and can convince them that it's the wiser choice to settle a loan modification. Get the help you need today. Avoid foreclosure and get help to stop foreclosure now with help from a loan modification attorney.

We never want to be part of your problem. NDSC will always give you the right advice so you can make the right decision about if modification could work for you. We have the solutions you need. National Debt Solution Center Let our attorneys fight for YOU!