How to Get a Loan Modification on Your Mortgage

How does someone get a loan modification ?

Call your mortgage servicer and ask to be considered for a “Home Affordable Modification”, or HAMP. The number is on your monthly mortgage bill or coupon book. Honestly and clearly tell them about your situation. They will assess your financial state through phone calls and paperwork to determine whether you qualify for a loan modification. Keep copies of all mailings between you and the lender and take detailed notes on who you speak with and what you talked about. Details of your conversations give you documentation down the road if you are faced with foreclosure. Be sure to watch the clock on all of this though, because when you’re applying for a loan modification, you are on the lender’s time table and we’ve seen many homeowners who were still waiting for the loan modification when they received foreclosure paperwork in the mail.

If you’ve been late on your mortgage or you’re at a point where you know you can’t pay on time anymore, call us and we’ll explain all of your options without the waiting! You can email me or you can apply for information online by clicking here apply online now. If you would prefer to discuss it on the phone, or set an appointment call me Toll Free at 866-433-6474 or call my cell directly at (703) 774-9572. We also have an agent to help our Spanish speaking clients, just call Mimi Tyrie at 703-542-3178.