What is a loan modification?

  • A loan modification is changing/modifying the current terms of your loan, which typically lowers the rate or payment on your loan and MAY include the possibility of achieving a balance reduction, if your situation warrants it, and/or adding past due payment and fees to the balance of your loan and starting fresh.
  • A loan modification is NOT a refinance.


What does Loan Resolution Services do for your fee?

  • We share our extensive experience (over 50 years combined) in loss mitigation, banking and real estate law to assist homeowners in retaining their homes through the process of loan modification.
  • We conduct a comprehensive analysis of your finances, then package the material so that it meets your lender modification guidelines, and negotiate with your lender to achieve the best possible loan modification for you.
  • The most important aspect of loan modification is that the numbers MUST work to be successful, and that is the value of what we do. This is very similar to when you applied for your initial home loan; you did not prepare your loan package yourself, you hired a professional to ensure you were approved. The same holds true here. We are seasoned professionals who know what the banks are looking for, and how to work with them toward a successful outcome.


Do I need to be behind on my mortgage payments?

  • No, it is not mandatory that you have to be behind on your payments to receive a modification. There are many situations that will allow you to obtain a modification without being delinquent. Some of these situations include:
    • You have some type of hardship going on, either personal or professional (job change or loss).
    • You have an adjustable rate that is about to adjust or has recently adjusted.
    • You have received a loan that falls into the predatory lending category.
    • You are simply behind on your property taxes.
  • Banks are currently granting modifications for people who are taking a proactive approach and foresee a problem arising in the near future.


What are my chances of being approved for a loan modification?

  • With our professional assistance, your chances are excellent - meaning 90-95% - if you make it through our underwriting process.
  • Without our expertise, we are finding that consumers are successful about 12-16% of the time when preparing their own modification packages.
  • We suggest that our clients are great at their given professions, and we are highly qualified and experienced in ours, which enables us to provide service, value and experience where it is greatly needed.


Do you guarantee the bank will approve my modification?

  • No, we do not guarantee a result because your bank is the only entity that can make any written guarantees on your loan. Be wary of any loan modification company that guarantees approval.
  • What we can assure you is that you will fall into one of the bank's loan work out programs which include one or more of the following:
    • Loan modification - Rate, payment and/or balance reduction.
    • Forbearance - Arrearages put onto the back of the loan.
    • Short Sale - Selling home with a shortage to the bank.
    • Deed In Lieu - Signing/Deeding your home back to the bank.
    • Repayment Programs - Arrearages put into monthly payment agreements normally spread out over a 6-12 month period.


What is your success rate?

  • Based on our current results and the amazing feedback we are getting from our clients, we are proudly at a 95% success rate, and committed to your success.


Our ultimate goal and vision at Loan Resolution Services is to help homeowners create a strategy and solution which allows them to live within their means, gain the ability to save, and achieve peace of mind by creating long term stability.
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Time, and lenders, are not on your side
If you're in danger of losing your home, you only have limited time and just one shot to get it right. The sad fact is that homeowners who try to do their own loan modifications have a failure rate of over 80%. And the reality is that your lender does not want your home - they would much rather have you keep making your monthly payments and keep your home!

Let LRS make you one of our success stories!
We understand the stress you're under, and the confusion of all the companies and options you have. Take the first step to getting back on track and contact us today. You've found the solution with Loan Resolution Services - we have the expert legal staff and experienced loss mitigation specialists to help you.
If you're in one of the following
situations, we can help:
  • You owe more than your home is worth
  • You can't sell or refinance your house
  • Your mortgage payments have increased or are going to increase
  • You don't have the credit or equity for the bank to give you a new loan
  • You've experienced a recent job loss or other financial hardship
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