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Mortgage Restructure
A mortgage restructure also known as a loan adjustment or modification is a change to your current mortgage loan terms. It is similar to a refinance however you are not paying off your current loan and taking out a new one, and since you are simply “modifying” your current loan, it is not based on your credit score or credit and payment history.
Due to the recent economic changes, New Programs have been released to help reduce mortgage payments by up to 25% or more.
Typical changes through a restructure include one or more of the following:
Lowering of the Interest Rate
Capitalization/deferment of any missed/skipped payments
Term re-amortization (some investors leave the maturity date the same)
Partial Claim or Principal Reduction (possible but rare in today’s real estate market)
How to apply for a Mortgage Assistance:
If you want to be considered for a mortgage assistance, you have several options. You can call your lender/servicer directly, contact a local HUD approved counseling agency by going to hud.gov or hire a professional third party. If you’re going to choose to hire a professional third party, never pay anything upfront until the third party helps secures an offer from your lender/servicer that you choose to accept.
Our team is one of the only companies in the world who works with $0 upfront fees and operates on a 100% contingency basis where a success fee is only due AFTER acceptance of an offer. If no offer is accepted no fee shall be due.