Loan Modification

Loan Modification

We can negotiate with your lender to get your loan in good standing again. There are many options available to use to get a restructure approved like a separate payment plan for your delinquencies or even adding the delinquency to the end of your loan. You may qualify for a restructure especially if you have recently experienced a reduction in income or an increase in living expenses. Sometimes we can even get your monthly payment lowered!

Loan Restructuring is also known as a Loan Workout or Loan Modification. This type program is designed for owner occupied properties, primarily financed with an FHA, VA, or conventional type loans. Here are some key features financial institutions look for when considering a workout:

  1. Was their a hardship that caused you to fall behind?
  2. The hardship has since been resolved?
  3. How many payments are you behind?
  4. Can you resume monthly payments?

These conditions are questions you need to ask yourself, to see if can you afford to stay in the home. You may also want to consider if you can pay any arrearages immediately or can afford to pay them in a payment plan. If not, a short-sale option may be more for suitable for your circumstances.

You can apply for a Loan Restructuring, at the same time your doing a short-sale. This will ensure you are not losing anytime while we are negotiating with your financial institution.

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Avoid Foreclosure & Short Sale Information:

What is a Short-Sale | What is a Deed in Lieu of Foreclosure | What is a Loan Modification?
Mortgage Forgiveness Debt Relief Act | Short Sale vs. Foreclosure Comparison Chart

Contact Information

Blue & Gold Realty Team
Carrington Real Estate Services
505 Merchant Street
Vacaville CA 95668
(707) 447-5000
(800) 459-4813
Fax: (707) 471-6591
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Carrington Mortgage Services, LLC (CMS) headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS Unique Identifier #2600.

 

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