Our company is fantastic and honest. It is all done by Attorneys but the redefault rate is under 10% for Attorney handled Loan Mods and for NON-Attorney Loan Mods the redefault rate is 50 to 80% so that statistic tells you which way to go for better negotiations.
We also prequalify your clients upfront for free to make sure they can afford the new payment and can actually qualify for the mod. If you client can't handle the new payment we let you know as we do NOT want to put someone back into a loan they can't afford.
Call me toll free today at 1-866-799-5551
You usually will have to provide them with 2 years tax statements, a hardship letter explaining you situation among other documents.
Your credit score and payment history will also effect their response.
The most important thing is not to ignore your situation. Call and ask for help. If your financial institution will not work with you contact the hope program.
Please be careful, many so called professional "Realtors" and "Loan Officers" are now turning into "Modification Experts" these are the same unethical and unlicensed people that put many of their clients in the situation they're in now
Call me with any questions you or your clients may have, I will be more than happy to answer them!
I can offer Retail or Wholesale Loan Modification services
Regional Account Manager
Ferris Financial Group, Inc.
The guys that rented Quincy's office building on Winchester do loan mods. They've been doing them for a few years now.
Also, I have done them for clients - if you've done loans, or short sales, you can easily do a loan mod - the hardest part is getting in touch with the banks.
One more thing, go over the figures with your client and make sure they are good with the modification terms - most loan mods go bad within 12 months.