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.

Will the Drop in Fixed Rate Mortgage Interest ease the pressure on Real Estate Market ?

Posted by H.S. | 12:09 AM | , , , , | 0 comments »

Wikipedia defines Fixed Rate Mortgage as "a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or 'float'." Fixed Rate mortgage has been one of the preferred source of loans or mortgages people looking to buy houses. The rates of this long term mortgage option had been on a high recently owing to the various market forces. The increase in Fixed Mortgage rates was one of the reasons that triggered a fall in demand for new homes.

However the Fixed-Rate Mortgage Interest rates on 30-year fixed-rate mortgages were pegged at 5.52% today, dropping from a promising 5.67% last Friday and a weekly average of 5.72%. The drop reflects the falling yields on U.S. government bonds, which play a significant role in the housing market. Online real estate service Zillow.com says the rates are still comfortably higher than they were at the start of the year and at the end of May, when rates were roughly at 5%.

Recent increases in mortgage rates have hampered the government’s home refinancing efforts, although experts believe that the housing market is still on its way to stabilization. Barclays Capital economist Michelle Meyer says that home sales have leveled off, suggesting that the housing market may be hitting bottom. In a report published Friday, Meyer said that new single-family homes have been falling at record pace with builders canceling numerous construction projects. She added that home prices may be the last to bottom, as home prices are expected to fall by 40% through late 2010.

This fall in interest rates has surely come as a pleasant surprise for the reeling Real Estate market and people looking to buy new homes. However there are many home owners who are still looking for more steps to be taken from the government to help them save their homes from foreclosure. Though the home owners do have the option of Loan Modification but easing of pressure on the real estate market in general will surely help raise the mood.

To know more about the Loan Modification as an option for Home owners to save their homes from foreclosure visit http://www.cdloanmod.com. You can more information on more recent steps taken by the goverment and other developments on http://www.cdloanmod.com/loss-mitigation-news

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