Loan Modification is when the terms of your loan are renegotiated with your lender. This may include the interest rate, the term or length of your loan and in some cases the deficencies maybe added to the back of the loan.

Foreclosure proceedings result when the borrower (or homeowner) has missed multiple payments and the lender has unsuccessfully attempted to collect those payments. Many times the borrower is able to resume making payments but once 3 payments have been missed the lender will generally not accept the payments and foreclosure proceedings will begin.

• Have you received foreclosure notification
• Did you recently have a financial hardship?
• Have you missed 2 or more mortgage payments?
• Are you now able to resume you financial obligations?
  

If you are able to answer yes to any of the questions above you may qualify of Loan Modification

The challenge in successfully negotiating loan modification is speaking to the right representatives at your lender, filling out the paperwork necessary to accomplish the task and getting it all done in a timely manner.

                          Call Eileen Hepp Realtor-Broker Associate                                   Loan Modification, Short Sale & Foreclosure Specialist                                      Office 609-978-5000 ext. 109            Direct 609-290-8564                                                 email c21eileen@exit63homesforsale.com