What is Loan Modification?
A Loan Modification(sometimes called a Loan Mod) is the altering of one or more of the characteristics of a loan and/ or its terms. Loan Mods are usually the result of the borrower's inability to make payments in the agreed upon
time-frame or because the property is worth less than the borrower owes, has a high interest rate or an adjustable rate mortgage.
This means that a homeowner has taken out a loan to purchase a property, or refinanced to cash out a loan, and not able to repay it in
accordance to the pre-set schedule designed when the loan was taken out. They then fall behind on their payments and are faced with a
few tough choices....foreclosure, deed in lieu of title, short sale or
loan modification.
The only option of this list that does not force the homeowner to lose their home is the
Loan Modification.
How Can We Help? The Mortgage Loan Modification process usually takes 30-90 days, and consists of many long phone calls, letters and negotiations. Aggressive Loan Modifications professional and trained staff will handle every aspect of your negotiation, and
prepare a comprehensive mortgage loan modification package on your behalf for your lender. Aggressive Loan Modifications may request modifications inthe following ways. Request adjustments, elimination or repayment plans on any delinquent and past due balances, request current and future rate of interest charge and monthly payments to be lowered, request loan balance amount to be
less than current loan (lowering your principal balance), request to turn your adjustable rate loan into a fixed loan, request loan to be
converted to a longer fixed term. However, other options may be used to lower your monthly payments. For a one time nominal fee,
Aggressive Loan Modifications offer unlimited negotiations with your lender and/or their attorney's. We will put together on your behalf, a full financial package for your lender including: Cost / Benefit
analysis for your lender to modify your loan – This proves to your lender why they can benefit by restructuring your loan rather than
foreclosing. Financial analysis verifying payments you can afford.
Loan restructuring proposal – Aggressive Loan Modifications requests specific terms for your new loan. Representation on your
behalf in dealings with your lender. Full time one-on-one customer service for your status updates.
How do I know If I will qualify? No company can guarantee you are a candidate without diligently reviewing your financial
analysis first! Aggressive Loan Modifications will gather from you important information and compile your profile for underwriting and
pre-qualify before we collect any fees. We will only take on Clients that are in true need of a loan modification. If you have one or more
of the following your chances of loan modification pre-qualify are greatly increased: Have a provable hardship, Are in an adjustable rate mortgage, Are delinquent on your payments, Have a high debt to
income ratio, Can prove you have enough means to support the modified rate on your mortgage or You are unable to refinance.
What do I need to do? Call Aggressive Loan Modifications now before your situation worsens!
We will start to build a detailed financial analysis to include all income, assets, and all payments you make, down to every cost, including
GAS! This allows a realistic view of your financial abilities to be sure you can continue to make your home payments and keep your home for years to come once your loan is restructured.