Settling Your Loan Modification
The final step in completing your loan modification is settling and finalizing the details of your new mortgage loan. Once you’ve decided on the best option for your situation, your chosen attorney will work with you and your lender to complete the process.
Now that the details of your loan modification have been finalized, your bank or lender will be required to prepare new documentation to process your modified loan. They will work directly with the attorney who is working on your case to set up the closing. Then a date will be set up for you to meet and sign those documents so the process is completed.
At this point, you will have a new mortgage loan that will be more affordable, have a better interest rate, and overall improved terms. It’s important to mention that many people find that the mortgage they initially get into causes them financial stress at some point down the road. Either they weren’t aware that errors existed in their documentation, or they suffer a financial setback that makes the payments impossible to keep up with going forward.
Distressed Mortgage Solutions specializes in helping homeowners to protect their investment and have a mortgage that is more affordable. Through their audit services, loan modification services, they have helped hundreds of clients with FHA, VA, and traditional mortgages to have lower payments and avoid the risk of losing their beloved homes. Our job is to stop lenders from getting away with illegal and predatory practices and protect your most prized possession.
Contact us today and let our financial experts work with your lender on a loan modification so you can have more affordable payments and keep your home.