What is a loan modification?
A Loan Modification is when your current lender modifies your current mortgage. A new closing is not required. This is not refinancing your loan. A loan modification can change your interest rate, balance of loan, delinquent fees owed, and term of loan. Usually a loan modification was only performed when a borrower was past due. Currently it is being used before or after someone is past due. Loan Modification can be your best way to avoid foreclosure. Banks don't want you to go into foreclosure. Our goal is to give you a payment you can afford for the long term. Just call us at or click the see if you qualify button on the left.

 

Should I do this myself?
Of course you can negotiate with your mortgage company yourself. Just as some people act as their own attorneys.


However, phrases like “partial claim” and “special forbearance” are confusing terms. Many will find dealing with their lender an intimidating experience as they are passed around, never sure if  they are talking to the right person.

 


Hope 4 Home doesn't offer any service to you that you cannot technically perform for yourself?
 We have relationships at each lending institution that helps to streamline the mitigation process. If you call your lender you will be speaking to a low level employee that will most likely inform you that there is nothing that can be done for you. Not only do we know who to speak with, we also know the limits that they are willing to go. Additionally, you won't have to do the work that is involved in making it happen.

 

Will the bank agree to my loan modification?
They would rather modify your loan then have it go into foreclosure.  When a mortgage company forecloses on a property, they almost always lose money, however they will want to make sure you are capable of keeping up with the new terms.


The bad news is that you are really nothing more than a loan number to your lender. More than ever your lender is trying to cut their losses. While modifying your loan may help them with that, they're also eliminating jobs which is making it more difficult to speak to the right person.

 

Is it too late?
No, just call. If your home hasn't been sold yet then there's still hope. Contact us immediately. Start the process to save your home now.

 

I've negotiated with my bank and failed. What can you do?
This is what we do, loan modifications. You failed because you don't specialize in loan modifications. Give us a call and let our team get the results you were unable to get.

 

I'm already in bankruptcy, is that a problem?
Contact us for specifics on how we can assist you in this situation.

 

What is predatory lending?
Predatory lending generally refers to illegal and immoral activities some lenders engage in. These practices in many cases lead to foreclosures and unmanageable mortgage payments. We are skilled at uncovering predatory lending practices in your loans, thus helping us with your loan modification.

 

What kind of loan can be modified?
Just about any loan can be modified.

 
 
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It is not necessary to pay a third party to arrange for a loan modification or other form of forbearance from your mortgage lender or servicer. You may call your lender directly to ask for a change in your loan terms. Nonprofit housing counseling agencies also offer these and other forms of borrower assistance free of charge. A list of nonprofit housing counseling agencies approved by the United States Department of Housing and Urban Development (HUD) is available from your local HUD office or by visiting www.hud.gov
"Hope For Home is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan."