Frequently Asked Questions

What is Loan Modification?

Loan Modification is a procedure in which a loan's terms, like the interest rate, the monthly payment or the term, are changed to meet the current situation of the homeowner. All of this is done with the approval of the lender. In other words, we negotiate with your lender to change the terms of your loan (like the interest rate, monthly payment and length of the loan), to allow you to keep a lower monthly payment, keep your home and save your credit.

Is Loan Modification right for me?

If you are you one of the millions of Americans with an Adjustable Rate Mortgage that is about to reset to a higher monthly payment, then Loan Modification is probably right for you. Since most folks that got interest-only and adjustable rate mortgages don’t have much equity in their home, it will next to impossible for them to refinance. Short-sale or forbearance are not good options because they have negative tax and credit history consequences associated with them. A Loan Modification procedure does not have any negative credit or tax consequences, it allows you to keep your home and keep making a lower payment.

What happens in a Loan Modification Procedure?

In a Loan Modification procedure, your loan's terms, like the interest rate, monthly payment or the length of the loan, can be renegotiated to match what you can pay. So if you can’t afford to make higher payments on your mortgage, we negotiate with your lender to keep the lower payments.

Isn’t this the same as Debt Consolidation or Refinancing?

NO. This is not debt consolidation. And this is not an offer to refinance from a mortgage company. It’s a shame to see so many debt consolidation companies out there that claim to help people but really end up just taking their money. Most debt consolidation procedures out there consist of just putting everything a person owes on a credit card, trying to negotiate a better rate, charging a high fee and calling it a day. As mentioned, for a person to refinance in today’s market, they would need to have quite a bit of equity in their home, and since home values are so much lower now, this is next to impossible for most people.

What do you need from me to get the process going?

Typically we ask for some details about your financial situation, your income, how much you owe on your home and other debts, and we prepare detailed paper-work for the lender demonstrating your inability to pay a higher monthly payment on your loan. We then renegotiate the terms of your mortgage through the Loan Modification process, to allow you to keep a lower payment.

How long does the Loan Modification procedure take?

It can be done in as little as 60 days, but typically it will take about 90 days.

Who is the Mortgage Help Center?

The Mortgage Help Center was founded with a single mission: to help good folks save their homes and keep living the American Dream. Our experienced staff has decades of combined experience in Real Estate Procedures and Real Estate Financing. We are all dedicated to arriving at the best solution for your unique situation, and fighting to reach the ultimate goal of keeping your home, and arriving at a monthly mortgage payment you can afford.

Are lenders and banks willing to go through this process?

Most homeowners don’t realize that lenders and banks DO NOT WANT TO FORECLOSE ON YOUR HOME. In the current market, they will lose money by taking your home and trying to sell it, so the majority of lenders are very open to the Loan Modification process. So consistently tell our clients that Loan Modification is an emerging option to foreclosure that benefits homeowners and lenders alike.

Will I have to meet with the Bank/Lender or deal with Paper-work?

Absolutely not. At the Mortgage Help Center, we take care of all of the paper-work for you, so you don’t have to worry about the red-tape and negotiation associated with the process. You will never have go to your lender, or bank, we do all of the leg-work for you and will fight to reach the ultimate goal of keeping your home, and arriving at a monthly mortgage payment you can afford.

Does everyone qualify for the Loan Modification process?

Unfortunately in certain situations, you may not qualify for the Loan Modification process. This is usually the case with people that have waited to long to act and take charge of their situation. There are other options available to folks and our team of expert consultants will explore every possibility to save their home and their credit.

When is the best time to do something about my ARM or Interest-Only Loan that is going to reset?

DON’T WAIT! Time is your worst enemy in a situation where your payment is going to increase, and it is likely you won’t be able to afford it. Since it takes 60-90 days to complete the process, the best for you to call is RIGHT NOW. 866-208-0343.

Do I have enough time to stop my foreclosure?

It is important to check the state laws pertaining to your situation but know that time is your worst enemy in these situations! Stopping your foreclosure has to do with in many ways has to do with you taking charge of your situation and acting now! There are some required timelines, like getting a loan, loss mitigation, document preparation, etc. They all require time. If you’re worried about having enough time to stop the foreclosure, then call right now, not later.

How successful have you been in other cases?

We have a high success rate, simply because we fight for the client, not the lenders. We are Real Estate and Finance professionals with decades of experience dedicated to helping you save your home and your credit. If we think your situation is beyond remedy, we will tell you right away. We know you’re used to getting your hopes up only to be let down later and want to be up-front and honest with you. If we accept your case, we will explore every possibility to save your home and your credit.

What type of loans do you help with?

It can be done in as little as 60 days, but typically it will take about 90 days.

What programs are available to homeowners who don’t qualify for Loan Modification?

Besides Loan Modification there are quite a few options, some better than other. We can get loans, refinance, sell your home, do a short-sale or lease buy backs…It all depends on what is best and possible in your situation. We specialize in working with homeowners who want to keep their home. The majority of homeowners who contact us want to save their home from foreclosure and get their lives back on track, and that’s what we’re here for.

Customer Testimonials

"Overall, I had a fantastic experience with Mortgage Help Center. Mortgage Help Center was exceptional. Service was great. "
- Brian M.

"I want to compliment you and your staff for the wonderful treatment I received in the loan modification of my home. All of you were so kind and professional, which made the transaction very comfortable and seamless. Thank you also for the expeditious manner that the loan was modified."
- James A.

"My husband & I were blessed by the service we received from Overall, I had a fantastic experience with Mortgage Help Center. I'm especially thankful for how you kept me updated with the modification status, that meant a great deal to me."
- Christine A.