Lawyer Negotiated Loan Modification Services - No Upfront Fees

The ShortSalesASAP group has established an alliance with a professional California Licensed Attorney, with years of experience in successful Loan Modification negotiations. The Attorney provides free initial consultation in order to determine if a Loan Modification is an appropriate soltution for you and your financial situation. This Attorney does NOT charge an upfront fee for Loan Modification Negotiations, and only charges a fee at the succesfull completion of your Loan Modification.

For more information, terms and conditions, or questions, please fill out the form to the right, or email us at: No-Upfront@LoanModsPlus.com

DO NOT pay an Upfront Fee for Loan Modification Negotiations

It is now against California state law for a real estate agent, broker or Attorney to charge an upfront fee for Loan Modification negotiations.

What is a Loan Modification?

A Loan Modification is a negotiated legal alteration of the terms and conditions of your existing mortgage loan, in order to obtain lower mortgage payments or reduce the loan balance, or both. In today's declining real estate market in California, refinancing is available to only a select few. Getting approved for a traditional refinance is extremely difficult.

The goal of a loan modification is to change the amount of payment to a level where the borrower can consistently make their mortgage payment as well as pay other bills.

Why Would a Homeowner want a Loan Modification?

The need for a Loan Modification (sometimes called a Loan Mod) is usually caused by a borrowers inability to make payments in the agreed upon time-frame or because the property is worth less than the borrower owes. If the Homeowner has a little bit of equity in the home or is slightly upside down on the mortgage, and if the Homeowners current income is about 5% greater then their total current expenses, then one should consider a Loan Modification.

On the other hand, if the Homeowner is upside down on the mortgage by 10% or more, or if the Homeowners income is 10% less then their current expenses, then they should seriously consider a Short Sale.

Why Would a Banks Accept a Loan Modification?

Mortgage Banks would much rather settle for a Loan Modification then foreclose and take your home back. On average, Banks stand to lose over 50% if they foreclose, and therefore would rather collect lower payments then none at all. Banks do not want a mortgage to consume an entire monthly budget. They will take the homeowners entire budget into consideration ie; car payments, cell phone, utilities, credit cards payments, etc.

Who Typically Qualifies for a Loan Modification?

There are 3 basic criteria that most Mortgage Banks consider for the approval of a loan Modification.

1. The Homeowner should have little or no equity in their home.
2. The Homeowner is expected to have a Total Income approximately equal too, or no more than 10% of the Homeowner total Expenses.
3. The Homeowner's liquid Savings should be no more then about 8 mortgage payments.

California passed New Legislation to Help Homeowners in Need!

California recently passed new legislation to help solve the mortgage loan crisis. California is one of the states hit hardest by the foreclosure crisis and action was needed. An agreement was made with major mortgage banks to streamline the loan modification process.

Please give is a call TODAY, so we can begin to help you TOMORROW. Call us at: 888-201-7066 we are easy to talk to, or drop us an email at: No-Upfront@LoanModsPlus.com. We'll keep the conversation and your situation in our strict confidence. If you prefer, contact us by filling out the form above.

NOTE: The ShortSalesASAP Group does not conduct Loan Modification negotiations. We refer all inquires regarding actual Loan Modification negotiations to our affiliate Attorney. The purpose of this webpage is to provide information only, and is not to construed as legal advice.