How long does a loan modification take?
Once we receive your file we begin work immediately.  Most of the delay comes from the servicer or lender but usually the process runs between 45-120 days.  Unfortunately time is not on your side, the sooner you act the sooner you can modify your loan. Borrowers who need reduced mortgages need to act quickly and efficiently to get the right results. 

I’ve contacted my lender and I can’t get anywhere.  Can you still help?
Yes.  Many of our clients have tried to contact their lenders but can’t make any progress.  We have experience dealing directly with lenders and negotiating loan modifications in a manner that produces results and reduces the run-around and delay.

Can I do a loan modification on my own?
Yes, of course. Anyone who tries to scare you from contacting your lender or doing a loan modification yourself should not be trusted.  Many companies scare homeowners in order to generate business for themselves.  These companies do not care about helping troubled homeowners at all.  If you would like self-help tips for doing a loan modification please feel free to Contact Us and we’ll be happy to provide guidance for free.

If I do a loan modification do I have to pay a pre-payment penalty or other fees?
No.  There are no prepayment penalties and there are no extra or hidden fees.

What if I have bad credit, can I still do a loan modification?
Yes.  Credit is not an important factor for a loan modification.  Unlike a refinance, a loan modification is not based on qualifying factors such as credit.  Homeowners with low credit ratings can still achieve significant loan modification results.

Why should I use The Modification Center?
We have extensive experience in negotiating loans and saving our clients thousands of dollars.  Unlike most services out there, our company is properly licensed and regulated by state agencies and our results and service are unmatched.  We may be able to help you reduce your mortgage payments.  Click here to a Apply Now for a free evaluation.

Can I obtain a loan modification even if I have a 30 year fixed loan?
Yes.  We have helped homeowners with many different types of loans.  In order to determine the likelihood of obtaining a modification we provide a free no obligation consultation.

Do you offer payment plans?
There are a number of options for clients who need payment assistance.  First of all, we do accept all major credit cards.  Secondly, we can also break up the into 2 or 3 payments over 3 months.  Lastly, if a homeowner has decent credit then they should consider getting a new credit card with a promotional rate such as 0% for 12 months.

If I already received a loan modification from my lender can I get another one? It Depends.  We’ve been able to re-modify a loan into better terms than what our client had previously received from their lender.  We would first need to do a free no obligation consultation and review the documents that you signed for your previous modification.