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Are you having difficulty paying your
mortgage?
Lower
Your Mortgage Payments
You may be eligible for a loan modification
so you can save your home. For the best
results, you need a high-end mortgage
professional as your advocate who can help
you navigate through the complex process and
negotiate the best possible options
available. Time is of the essence, so call
My Loan Underwriters for a free consultation
today. Act now - it’s not too late!
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A loan modification
is the result of a successful negotiation
that changes the terms of your note through
an amendment. Each modification has unique
requirements and results because every
servicer has various investors, every
investor has different programs and
guidelines, and every borrower has a
different situation. Trying to negotiate a
loan modification by yourself can lead to
confusion, missed opportunities, and
rejection of your application. My Loan
Underwriters helps you navigate through the
layers within loss mitigation to get you the
best possible terms to modify your loan and
the lowest possible payment.
How
My Loan Underwriters Can Help You
We specialize in negotiating the terms of
your loan creating a win-win solution for
both you and the investor. We know how
investors look at your application and we
understand the
in-depth modification program guidelines. We
first conduct a free in-depth consultation
with you, and we take your case only if we
believe we can help you modify your loan.
Save your home. A loan modification may be
the solution.
FAQ
Q.
Do I have
to be late or not pay my mortgage payments
to qualify for a loan modification?
A. No. Even if
you are current you may be eligible to
modify your loan.
Q.
Do I have
to owe more than my property is currently
worth in order to qualify?
A. No.
However, equity may be a factor in
determining eligibility for a loan
modification. Please note, if you are upside
down that doesn’t mean you will
automatically qualify.
Q.
A. Yes. But
without a mortgage professional on your
side, the outcome of your modification may
result in a denial or less favorable terms.
My Loan Underwriters makes sure your case
meets all necessary ratios and guidelines
and ensures your case is reviewed by the
correct department. By understanding the
various programs and investors’
expectations, we help you leverage all
available options to modify your loan.
Q.
Should I
seek help from an attorney?
A. Suing the
investor or the servicer/lender doesn’t
guarantee a loan modification. An attorney
specializes in lawsuits and not mortgage
loan restructuring. Only a seasoned mortgage
professional who fully understands your
investor’s guidelines can successfully
underwrite and structure your loan
modification.
Q.
Is income a
necessary factor?
A. Yes. A
mortgage professional can play a critical
role to help you in this area. If you have
too little income, the investor may doubt
your ability to repay even a modified
payment. If you have too much income, you
don’t need a loan modification. All income
must be documented. There are specific
income guidelines (ratios) set by your
investor to determine eligibility.
Q.
Can I
reduce the principal loan amount on my
mortgage?
A. Possibly,
but unlikely. This is up to the investor.
Usually the investor will change the terms
without reducing the loan balance, but the
principal may be reduced in some rare cases.
Q.
When is the
deadline to apply for a loan modification?
A. Time is of
the essence. The sooner you apply, the more
time you will have in negotiating your new
terms. If you already have a scheduled
Trustee Sale then your application must be
submitted and deemed received prior to
requesting postponement of the sale of your
home. Every lender has different time
restrictions for the loan modification
packaged to be accepted for review.
Q.
What kind
of modification will I get?
A.
Modifications vary, but can include one or
possibly more of the following: extended
term (time to re-pay the loan), lower rate,
delinquency amount may be added to your loan
balance, principal reduction etc.
My Loan Underwriters was founded by top
industry experts with over 30 years of
knowledge and expertise. As a real estate
mortgage brokerage firm, we bring our
unparalleled experience in all aspects of
the mortgage industry to negotiate and
secure the best possible loan modification
outcome for you.
Free Consultation. During your free in-depth
consultation, we review your case to see
whether you’re eligible for a loan
modification, so you get an honest
assessment to determine your chance of
success.
Accessibility. My Loan Underwriters treats
you like an individual, not just a number.
We’re not just a website – we’re real people
with an office where you can come in and
meet us personally!
Communication. You can log onto our website
24/7 to see the up-to-date status of your
loan modification. In addition, we send you
emails to notify you of each update
throughout the process.
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