Loan Modification guidelines could differ from lender to lender. The most common factors are the following:

• Have a provable hardship
• Are delinquent on your payments
• In an adjustable rate mortgage
• Have high debt to income ratio
• Could prove that you have enough means to support modified rate on your mortgage
• Are unable to refinance

Every individual case is special and different lenders are using variety of considerations in loan modifications. The most important is a provable hardship. Hardship could be permanent or temporary, depending on customer circumstances. With a temporary hardship (like temporary loss of job, with new job already started; unpaid leave of absence, and etc.) banks usually will consider special forbearance, forgiving fully or partially delinquent payments, fees and late charges. Permanent hardship will shift bank attention to prove that borrower will have enough income to be able to make payments with modified rate. Like in any negotiations opposite parties are always trying to get the best deal possible for themselves. Banks are the most interested in keeping paying customer on books with a minimum concession to the borrower. This is where our experience and dedication could make a real difference. Our negotiators are fully supported by our Financial Analysis and legal teams. Knowledge of lenders’ guidelines, legal reviews of all documents and analysis of customer situation allows us to get the best deal for our customers.

Time is an essence in saving the home and loan modification process. If you are already delinquent it is absolutely critical to start process as soon as possible. It is much easier to get a good deal before bank will issue official notice of default. Although it is possible to get help at almost any phases of foreclosure (before sale) allowable options are getting limited, much more complicated and expensive. It is imperative that you repair the problem before it gets any worse.