You may be like millions of other home owners who have suffered setbacks that have made it difficult to afford your current mortgage. Consequently, you may have become delinquent with your mortgage payments and face foreclosure.
The reasons for financial struggles vary, including illness, job layoff, divorce, or other circumstances. Many borrowers have underwater mortgages, owe more than the home is worth and are seeking financial relief.
However, many homeowners do not understand that it may be possible to obtain loan modification help.
A loan modification changes the terms of your current home loan; common results include a lower interest rate or a lengthened loan term to reduce your monthly mortgage payments.
