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You are here: Home / Foreclosure / Loan Modification

Loan Modification

The purpose of a loan modification is to provide you with a mortgage payment you can afford. It’s actually very similar to a mortgage refinance but instead of finding a new mortgage that you can afford, this just modifies your current mortgage into something you can fit into your budget.

There are several programs available.  Depending on your lender, they may participate in the Making Home Affordable Plan, a.k.a HAMP, or they may have their own modification program.  Most loan modifications will lower your interest rate, if you have an interest only or adjustable rate loan, they may convert your loan to a fixed rate loan.  If you are behind on your payments they will typical add the arrears your existing loan balance and will include your property taxes and insurance in your new payment.

A loan modification may be a good option if you currently have an adjustable rate loan or you can make your future payment but are unable to get the arrears caught up.

We have helped several Redding & Shasta County homeowners successfully negotiate loan modifications and keep there home.  Here is the best part; we do not charge you for this service.

If you would like us to help you with your loan modification or would like to hear about modification programs specific to your loan, fill out the form below and we will contact you shortly.

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530-222-1818
1171 Hilltop Dr
Redding CA 96003

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