Hi Avery,
James brought up a very good point...some loan modification companies require upfront fees to get started. I advise that you DO NOT work with a company like this. We have partnered with Jenex Financial Services, which is owned and operated by a Real Estate Attorney that has been doing business since 1979. Also, there are NOT any upfront fees. You only pay for the services if you agree to the loan modification set in place!

Joshua Pick http://www.CREFCO.com
216-236-7266

Avery I am not an attorney but a loan modification may be the answer for you. In a loan modification you would make a lower monthly payment and normally the loan would be rewitten to a longer term. There may or may not be a balloon payment at the end of the term. Watch out for loan modification companies as there are some that will take your money and do nothing. Call your lender yourself and set aside some time where you can wait on hold for a while.
Here is a link to HUD's guidelines on loan modifications.
http://www.hud.gov/offices/hsg/sfh/nsc/faqlm.cfm

Jim Gordon PBD SRS
Sibcy Cline Realtors®

Hi Avery,

A loan modification is one option. There are 7 types of loan modifications. Here is a link to a website that you might find helpful for your options for borrowers struggling to make their payments. Good luck!

http://www.foreclosureoptionsnetwork.com

Hi Avery,
Our company is doing loan modifications and lender negotiations depending on your exact circumstances. If you would like more information, you can visit our website at http://www.CREFCO.com, or feel free to contact me at my direct number below. Thank you for the question Avery -

Joshua Pick
Sr. Mortgage Consultant
216-236-7266