These are just a few of the many questions that previous clients have asked us.

What is a Loan Modification ?

Simply put, a loan modification is a negotiation of your loan(s) with your existing lender(s) to restructure the loan's to more affordably meet your current financial situation as well as improve your future financial picture.

Remember - A loan modification is NOT a re-finance !

How does it work ?

A loan modification consists of three aspects :

1. Interest rate reduction - our team negotiates with your lender(s) and gets them to agree to lower your interest rate(s) on the first mortgage and the second mortgage if you have one.
2. PrincipLE reduction - our negotiators seek to have your lender(s) make some reduction of principLE amount(s) on the first or first and second mortgages.
3. Reduction or waiver of late payments / Reduction or waiver of late fees / Delinquency charges - Our team and our attorneys try to lever your lender(s) to reduce or eliminate late fees, delinquency charges, and even late payments. Be sure to remember that each client's loan modification negotiations and outcomes will be different and are not guaranteed.
   Click here for Performance Guarantee

Who Qualifies for a Loan Modification ?

Before March 4th 2009 when President Obama signed the newest part of the Homeowners Relief Bill, homeowners nearly always needed to already be many months behind on their mortgage payments or had already received a "notice of default", or a "notice of foreclosure". But now, better news- the newer legislation virtually requires lenders and loan servicing agencies to offer loan modifications to any homeowner/ borrower with a valid hardship.

• Adjustable rate mortgage resetting to higher rate.
• High Interest sub-prime mortgage.
• Layoff or job loss of spouse.
• Forced job relocation.
• Medical problem or illness in family.
• Disability of a borrower.
• Death.
• Divorce.
• Military deployment.
• Incarceration of a borrower.
  
  (See: Obama Bailout Video)
  (See: Related Article 1)
  (See: Related Article 2)
  (See: Related Article 3)

How do I know if I qualify for a loan modification ?

If you are behind on your payments, already in foreclosure, soon to be in foreclosure, have received a "notice of default", or sale date, have an adjustable rate loan,  have a negative amortization loan, a balloon loan, or a very high interest rate loan, then you probably qualify. Additionally any homeowner experiencing a hardship or soon to be in a hardship situation also qualifies.

Isn't a loan modification the same as refinancing a mortgage or consolidating my debts ? Does your service also take care of my credit card bills, auto loans, and my other debts ?

No. re-financing is :

refinancing a home loan requires you to pay out of pocket for things like appraisals, applications, lender fees, escrows, title insurance, loan points, etc etc.. and the problem is that you already don't have enough money. Why try to re-fi when a loan modification is much easier, much less costly and is a much better immediate and long term solution.

Debt Consolidation is :

Debt consolidation works by grouping together debts from numerous sources into a single loan with lower monthly payments, but it does not apply to mortgage payments. Loan modification works by having your lender restructure your current loan(s) to lower your interest rate(s) and therefore lower your monthly payments.

The good news is once 800 - Fix - My - loan has successfully negotiated your loan modification we do offer two other separate programs - the first one helps lower your other debts, bills, car payments, etc. The second program is designed to correct, clean up, and "accur - atize™" your credit file to raise your credit scores and restore a very good - excellent credit history. These are separate services that are optional and made available to you once your loan modification is completed. These are Not included in the cost of loan modification.

Do I need to be late or behind on my monthly mortgage payments already ? 

No, but it will make negotiations easier.  Loan modification is meant to help people with financial hardships or bad loans and lenders are more willing to help borrowers in trouble. Homeowners with toxic mortgages or who are already behind in payments or are struggling and about to go late get the most immediate attention from lenders.

I have bad credit ; I also have very bad credit scores- can I still qualify for a loan modification ? Should I even bother ?

Good News !

Credit and credit history have absolutely no bearing on a homeowners/borrowers ability to be helped by our team in potentially getting a very attractive loan modification. Credit scores do NOT matter !!. The most important thing in obtaining a loan modification is a particular homeowner/borrowers difficulty or hardship.

Remember - A loan modification is not a re-finance !

I have heard the term "hardships" when referring to loan modification - what are "hardships" - must I have them to qualify ?

Yes, there must be some kind of hardship - here are some of the most common hardships ~

• Death of a spouse, or other co-borrower, or other immediate family member
• divorce or marital separation
• medical emergency or unexpected serious medical expenses
• illness or disability
• reduced income (pay cut or cut hours)
• total loss of income by one spouse or co-borrower such as ~
  - loss of job - forced job re-location - failed business - call to military duty
• stuck in bad loan(s) or "toxic" mortgages such as ~
  - resetting or adjusting adjustable rate mortgage (ARM) - stuck with option adjustable rate mortgage (option ARM) - stuck with "interest only" loan or "balloon payment" loan - stuck with high interest rate "sub-prime" or "hard money" loan
• upside-down or underwater in loan-to-value
• severe damage to property resulting from such occurrences as wild fire - flood - earth quake - hurricane / tornado - house fire - civil disturbance - riot
• incarceration of one spouse or co-borrower

Can you help unemployed homeowners ?

Yes, as long as there is some source of steady income like one spouse or co-borrower is still gainfully employed and the numbers make sense when 800 - Fix - my - Loan's case worker's simple analysis of your income and expenses make sense. Call for your free consultation - 800 - Fix - My - Loan (800-349-6956) today !

What if I receive a "letter of deficiency" a "notice of default" or a "notice of sale" date ? Can 800-Fix-My-Loan still help me, or is it already too late ?

There is still hope, but you must call us today. These three notices are the most serious, time-critical documents ! Our staff and attorneys must file special emergency paperwork on your behalf immediately to save your home ! The longer you wait, the fewer options you have, and the harder it will be to save your home ! If you are serious about saving your home we need to hear from you right now... Pick up your phone and call 800-Fix-My-Loan (800-349-6956) and let us help you right now !!

I am already more than a few months late - does my mortgage company want to foreclose on my property and take my home ?

Absolutely not ! When a bank, lender, or mortgage company forecloses on a property, they invariably lose a lot of money. If they can't sell the property as is so common in today's market they stand to lose even more if they are forced to take ownership of the property. Surprisingly this situation ends up working in your favor. As long as you have a valid hardship our negotiating team is normally able to use your severe circumstance and really negotiate an excellent loan modification for you. call us today for details 800 - Fix - My - Loan (800-349-6956) !

I have heard that walking away from your home is a better option than loan modification - is this true ?

This is emphatically not true ! Even if your current mortgage balance is more than the value of your home lenders will probably sell your home at auction for much less than it is worth. Then, most lenders will take legal action against you seeking what is called a "deficiency judgment" in order to collect the difference between the price at auction and what you owe on the balance of the mortgage. In addition to the hit your credit score takes for missing payments and defaulting on a loan, any legal judgment against you adds an extra whammy. In many cases surprisingly, bankruptcy is a better option than walking away, because you may be able to keep your home. Since loan modification can prevent either or both of these negative alternatives, it is obviously worth seeking. Lastly, walking away will destroy your personal credit history for from 7 to 10 years. Each homeowners situation is very different so we suggest calling today. In about 10 minutes time we will evaluate your specific circumstances and recommend your best course of action - your consultation is free 800 - Fix - My - Loan (800-349-6956) !

What about president Obama's "Homeowners' Relief Bailout" plan ? Wont it save my home ?

Well, like so many other government programs, it sure sounds great but it has dozens of rules and provisos before you can qualify for one of its several program parts. Learn more about the "Homeowners' affordability and stability" plan.

(See: Obama Bailout Video)
(See: Related Article 1)
(See: Related Article 2)
(See: Related Article 3)

Why hasn't my lender contacted me for a loan modification ?

With the real estate market the way it is right now the lenders are focused on re-financing the loans which they can and making new loans which, regrettably, leaves them short on time and employee resources to contact their existing borrowers. Simply put, they don't have the time, the personnel, or the inclination to deal with the huge, overwhelming tidal wave of troubled mortgage holders, defaults and foreclosures - no less the time to handle your individual financial problems. They must deal with loan modification companies like 800-Fix-My-Loan ! Why? Because 800-Fix-My-Loan has dozens or even hundreds (depending on the lender) of files being negotiated not just one or two like you would have with your first mortgage or your 1st and 2nd mortgages.

On TV, Radio and on the News they keep telling everyone "you can do a loan modification yourselves" can I do this myself ?

The simple answer is of course, yes. However here are some of the important things to consider before you try this yourself. But first, before we even mention a few of these, please watch the congresswoman Maxine Waters Video In this short video shot recently by ABC TV News, United States Congresswoman from Southern California, The Honorable Maxine Waters F A I L S trying to help 3 different, financially struggling Los Angeles families from her congressional district reach their respective lenders and get loan modifications - very Eye Opening ! Also, according to statistics reported from the National Association of Mortgage Bankers in figures published in June of 2009, homeowners attempting to negotiate their own loan modifications (including resolving any late payments, late penalties, delinquency fees, etc.) 93.2 % F A I L E D to convince their lenders to modify their loans ! N.A.M.B. also reported that the length of time it took to fail averaged 7.3 months !!

Now the facts on trying to arrange your own loan modification - of course you can negotiate with your own lender yourself. Just as some people act as their own accountants or legal representatives, some people are knowledgeable enough about mortgage delinquency that they are comfortable negotiating with their lender.

However, for others phrases like "partial claim", "terms & conditions re-cast" or "special forbearance" are intimidating and confusing terms. people in this category may find that dealing with their lender to be a de-humanizing experience as they are shuffled along the assembly line-like process.  They rapidly can see that the representatives they are talking with really do not care about their best interests while desperately trying to meet their call quotas, attempting to keep their talk times low and to keep their own jobs. You can see why it may be wiser to retain 800-Fix-My-Loan to win this battle for you.
Call us today for your FREE consult - 800 - Fix - My - Loan (800-349-6956) !

What makes 800-Fix-My-Loan the best choice to handle my loan modification ?

Excellent question ! Aside from our staff's more than 150 years of specialized loan modification negotiation expertise, we offer 2 unique loan modification services :

1. "Direct investor" loss mitigation negotiation
2. Forensic Loan Audit

These 2 services are extremely highly specialized and largely unavailable elsewhere in the loan modification industry. Please call us at 800 - Fix - My - Loan (800-349-6956) to see if your specific situation warrants using these advanced loan modification / loss mitigation techniques.

What is 800-Fix-My-Loan's success rate in getting loans modified ? How long have you been doing loan modifications ? How many homeowners have you helped ?

We have been doing "loan workouts" (workout is what loan modifications were originally called) representations for over 20 years. Just using our most recent statistics of loan modifications our success ratio is over 91% (91.78% to be precise !). We have assisted more than 1000 families to receive loan modifications. Let us help you ! 800 - Fix - My - Loan (800-349-6956) !

What lenders and banks do you work with ?

800 - Fix - My - Loan has loan modification transactions successfully completed with or in process with virtually every major and minor lender, bank and investor in the USA.
(See: Banks and Lender Experience)

Are all lenders willing to negotiate with your company ?

yes - absolutely ! Our team has exceptional 'first - name basis' contacts at all major lending institutions. These important relationships have saved our clients' homes, bettered their financial situations and helped preserve their credit with loan modifications.
(See: Banks and Lender Experience)

How long does the loan modification process take ?

Loan modifications are currently taking from approximately 90 - 150 days. Homeowners who have a "notice of default" or "notice of foreclosure sale" (also called notice of sale, notice of trustee sale, or notice of sheriff's sale) usually take less time, 60 - 120 days. As you would expect, each and every homeowner's scenario, hardship and financial situation is different. For your free consultation, call 800 - Fix - My - Loan (800-349-6956) !

What papers and documents do I need to submit for a loan modification ?

This is the really great news about loan modifications ! We only need an "authorization" form, most recent paycheck stub, your last 2 months bank statements, and just a couple of other papers you have around the house. 800 - Fix - My - Loan's expert staff will complete your file and submit it to your lender immediately ! Get started today - call 800 - Fix - My - Loan (800-349-6956) !

What kind of improvement might I expect with my loan after you succeed with my loan modification ?

As you would expect, results vary from case to case, file to file, but most of our clients have gotten interest rates between 3.00% and 5.5%. Some of our clients with especially severe hardships have seen rates as low as 1.6% and to lower payments even farther, payback term lengths extended to 40 years. We have a perfect 100% success record in getting homeowners' /  borrowers' with so called "toxic mortgages" (such as adjustables, option adjustables, interest only loans, balloon payment loans, and predatory lending, super high rate "sub-prime" mortgages) stable, reduced rate, fixed rate loans ! Let's get your process started today - call 800 - Fix - My - Loan (800-349-6956) !

How does your "100% Performance Guarantee" work ?

800 - Fix - My - Loan's Performance Guarantee says : "if we do not succeed in getting any form of loan modification or Forbearance on your mortgage(s) - you shall receive a full refund less a small case - file submission fee." For details call 800 - Fix - My - Loan (800-349-6956) !

OK - I'm ready to have the 800-Fix-My-Loan Team complete my loan modification - Can I get help Immediately ?

Absolutely yes ! For those of you who have received a "notice of foreclosure" or "notice of sale" be sure to inform us right away when you call ! We usually must file emergency paperwork on your behalf I M M E D I A T E L Y !!! This is critical in helping us save your home ! call 800 - Fix - My - Loan (800-349-6956) ! You'll be GLAD YOU DID !

Do I need to pay for your services in advance ?

Yes. You are paying for legal representation against your lender(s). It works as a legal retainer, the same as any legal services. We accept all major credit cards, severely strapped clients who are traditionally employed, we may offer a payment plan. We are here to help - give us a call 800 - Fix - My - Loan (800-349-6956) today and let us review and make reccomendations on your specific situation ! Your consultation is free !

I have heard a number of other terms like - "Short Sale" - "Short Re-Fi" - "Forbearance" - "Partial Claim" - "Deed-in-Lieu of Foreclosure" - "Cash for Keys" - "Loan Mediation" - "Loan Rescission" - "Loss Mitigation" - "Deficiency Judgment" among others... Can 800-Fix-My-Loan give me more information about what these mean ?

Have a look at our Glossary Page. The terms and definitions should be able to answer most, if not all of these questions. If you don't find a specific answer you are looking for just call us - 800 - Fix - My - Loan (800-349-6956) and our staff will gladly personally answer your query !