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| Frequently Asked Questions |
How long does the process take?
The process can take as little as 3 days and up to 120 days. Our existing relationship with
lenders allows us to produce quick results.
Can I do a loan modification on my own?
The answer to this is yes, however, approximately 82% of homeowners who try a loan
modification on their own, are unsuccessful. The process is very detailed and frankly speaking,
your lender does not have your best interest at heart. They want you to pay as much interest
as you possibly can over the term of your loan.
Do I have to be late on my mortgage to do this?
The answer is no. You don’t have to be late on your mortgage but you do have to have some
type of hardship in order to qualify. Situations such as adjustable rate mortgages, negative
amortization mortgages, owing more than your home is worth, loss of income, etc., will qualify
you to be approved for this process.
What if I have bad credit?
Your credit is not a determining factor. We understand a person’s credit is going to deteriorate
when they are involved in a financial hardship and therefore, the process is not dependant on
you having good credit.
I don’t have any equity in my home. Do I have to have equity to do this?
You do not need equity to qualify for this process. We have helped clients who were severely
upside down on their homes (i.e. owe more than their home is worth).
What if I am in Foreclosure already?
Since we are a California licensed law firm, we can engage any client who is currently involved
in foreclosure or default proceedings. If you are already in foreclosure, please contact us right
away to help you handle the proceedings. |
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