Download our Free BrochureHow to avoid Foreclosure
Do you want to save your home?
We specialize in out-of-court resolutions of Mortgage Foreclosures by negotiating with your lender. Let our expertise help you save your home. We can give you the Foreclosure help you need.
-
Stop Foreclosure News
Please call our Toll Free number
1-866-544-0990 or fill out our FREE QUESTIONNAIRE and we will respond to you promptly
|
|
|
|
|
 |
 |
|
|
|
Can we refinance at a lower rate and reduce our payments?
February 27, 2007
Tennessee foreclosure
This is an actual comment for a client:
”We would like to keep our home, but can not meet our mortgage payment at the current rate. Can we refinance at a lower, fixed rate and reduce our monthly payment and defer back payments to end of loan?
To get the payments to at the end of the loan would be what's called a loan modification. Sometimes in a loan modification we can actually redo the loan and get to a fixed rate. I can't guarantee we can do this in every situation but we have successful at getting this done.
Comments
I applied for a loan modifications and havent heard anything yet. This is getting very serious for us, and need this ,matter resolved soon. I am at work and do not have my loan # with me. Can you please look me up by my name and email me some news. Other companies are re-instating peoples loans to their original amount before it adjusted. This is a good idea. It would save people from losing their homes. To you I know it is just a piece of property, but to us the homeowners, it is a place to keep our kids safe and warm. Paying for that luxury is not a problem. It's the getting "taken of advantage of" that really hurts. I think these shady brokers that talked people into these subprime loans should somehow be held accountable. But you can help to right a wrong, like other companies have done.
we have a 2nd mortgage on an investment property with sps servicing. we want to negotiate a lesser amount and payoff the balance. Otherwise, we will say we are no longer paying and they will be stiffed in a short sale. any suggestions?