The Loan Modification Department

At The Loan Modification Department, we understand the stress of dealing with foreclosure. That's why we put our best effort into helping our clients and help them every step of the way. We will keep you fully informed of your options, and we'll follow up consistently to make sure you get the best loan modification deal.

Loan Modification

A loan modification re-structures the terms of your mortgage to make your payments more affordable. But while it’s certainly promising, a long-term loan modification can be hard to negotiate. That's where our law firm’s Loan Modification Department comes in.

Loss Mitigation

Loss Mitigation is one of several processes designed to minimize the damage caused by defaulting mortgage loans. Often backed by an attorney or firm, it involves negotiations between the lender and the borrower that binds them to new, more manageable terms. These terms are aimed at preventing foreclosure and lessen the damage incurred by both parties.

Federal Government may offer New Loan Modification Plans

Posted by Steve Calis | 11:36 AM | , , , , | 0 comments »

Federal Government may soon be offering loan modification plans to people with impending foreclosures. As per a news item on ABC NEWS these plans may involve Lowering Interest Rates or increasing the Loan Terms.
An excerpt from the article:
"

Modifying loans is part of a new proposal now under consideration by the government, a person familiar with the matter told ABCNews.com. The proposal, by the Federal Deposit Insurance Corp., is similar to measures being implemented by the FDIC at the failed California-based bank IndyMac.
Unlike a previous government mortgage relief plan -- the Help for Homeowners plan, which Congress approved in July -- the new plan isn't dependent on a lender's willingness to write down a loan's principal. Instead, other loan modifications are favored -- namely, lowering interest rates and lengthening loan terms.
In exchange for the modifications, the government would guarantee
the loans.

"
According to published reports, a government loan modification plan could aid 3 million homeowners, would cost up to $50 billion and could be funded by the government's new $700 billion financial rescue package.

For Original News Item Click here
More information on Loan Modification and Mortgage Modification at www.CDLoanMod.com

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