Phoenix Loan Modifications: Use an Attorney Backed Professional

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I love my house, but I can’t make the payments.

Many homeowners that I run into do not want to move out of their home. They picked this home because they like the area, the schools, and their neighbors.

I talked with 2 clients this week about their experience doing a loan modification on their own, on their bank’s terms. After 5 months of working through the red tape with the banks, hours upon hours of hold time, being told time and time again that they don’t qualify, they finally got a loan modification worked out. So why were they calling me?

The banks solution saved the homeowner $200 a month; it cost them $4000 in fees

Read that again. That is over a year and a half before the homeowner breaks even. That lowered price will only last for about 5 years. I had another clients who’s “solution” offered by the bank was to just add their outstanding late payments to the balance of the loan.

So what does an Attorney Backed Loan Modification get you?

Our clients are seeing an average of 3 points knocked off their rate. Their monthly payments are being cut by 40%. Second mortgages being wiped out and principal reductions being made on the 1st. You can sel your house on your own, but you won’t sell it for as much. You can defend yourself in court, but nobody recommends it. You can do your own loan modification, but you will get screwed.

If you are underwater on your home and you are falling behind on payments, don’t wait to give us a call. You have options. We can help you with the short sale process or doing a loan modification, if it is right for you. There is no reason you have to settle for what the bank offers. Give us a call at 971-235-9561. Let’s talk about what your options are and find what’s best for you.