subject: California A+ Bbb Mortgage Loan Modification Companies | San Diego [print this page] Now more than ever, lenders are willing to renegotiate the loan terms. Not only do lenders save more money by modifying a loan than foreclosing on a property, but President Obamas new Homeowner and Stability Plan (HASP) further incentivizes lenders to offer loan modifications. The HASP has a budget of $75 billion to refund lenders for the money they lose in the loan modification process. HomeStart will determine if you qualify for a loan modification and get the process started with no upfront fees.
A loan modification is a permanent change in one or more of the terms of your loan. The purpose of a loan modification is to allow the borrower to meet the new loan modification terms in order to prevent foreclosure. A loan modification is not a refinance; it is a renegotiation of the loan terms. In other words, a loan modification is a contractual agreement between the Lender and the Borrower to provide long term relief from unaffordable loan terms. Loan modifications can lower your interest rate, monthly mortgage payments, and the principle balance. Since the cost of foreclosure to the Lender is higher than new loan modification terms, lenders are open to loan modifications to prevent foreclosure. HomeStart is here to help you through this process.
HomeStart is accredited by the BBB and does not collect any upfront fees. In addition, HomeStart is licensed by the California Department of Real Estate (DRE). As one of the few loan modification companies in California with an A+ grade from the BBB and strong relationships with the largest mortgage lenders, HomeStart is a trusted company that strives to provide the best solution to prevent foreclosure.
Here is an example of a recent loan modification performed by HomeStart.
Property in San Diego, CA
Total monthly savings of $1,132.38/month
Primary Residence:
Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of$2,445.30.
Modified to:
Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments.
For more information please visit http://www.YourHomestart.com/
by: yourhomestarts
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