loan modification BBB

Our Process



Loan Modification Step by Step Process

  1. Free Consultation. We talk with you to assess the likelihood of a Loan Modification.
  2. Data Gathering & Analysis. We gather your financial and mortgage information to further determine how best to approach the lender on your behalf.
  3. Engagement. If we both agree to move forward, you sign paperwork giving us authorization to represent you.
  4. Contact. We contact your lender to open a Loan Modification case. This helps prolong any foreclosure proceedings and is the first step toward engaging the lender.
  5. Transfer of Information. We package the information you supplied and get it into your lenders hands.
  6. Review. We walk your lender through the carefully crafted paperwork to ensure understanding and a timely response.
  7. Demonstrate. At this point, we show the lender why it is in their best interest to modify the loan rather than foreclose.
  8. Negotiation. Once your lender is on the same page as us, we make a specific request for modification. This request is based on information provided by you, our extensive knowledge of the industry and future affordability.
  9. Contact Campaign. Lenders are notorious for slow turnaround and avoiding calls. While respecting the complexity of the process, we begin a contacting campaign that may include contacting higher management. This results in faster turnaround.
  10. Additional Data. The lender invariably requests additional information. Utilizing our experience, we provide information that is relevant and suited to depict a picture that is best for you.
  11. First Offer. The Lender comes to the table with an initial offer. Using past experience, we bring forward a counter offer which is tailored to your needs but attractive to lenders.
  12. On-going negotiations. This process may go on for days, or weeks. We consult with you each step of the way.
  13. Agreement. The lender has its legal counsel draft documents which reflect the on-going negotiations.
  14. Review. Upon receiving the Modification documents, we review and modify the terms as needed.
  15. Signing. Once we have agreed on the terms as written in the documents, we sign the documents.
  16. Done deal. The homeowner gets to keep his / her home and has the new lower monthly payments and possibly a smaller loan than what they had before.