Love your home, but not your payments? Wish there was a way to stay where you are and pay less? A loan modification may be the solution you’re looking for.
What is a loan modification? Simply put, loan modifications are changes made to your original loan, essentially creating a new agreement between you and the bank. Loan modification options vary depending on type of loan (Conventional, FHA, VA, etc…) and mortgage holder.
Banks want their monthly payments, one way or the other. If your payments begin to pile up and you fear you may miss some, the bank would rather renegotiate terms than miss a month or more of payments.
Why would a loan modification be right for you? Sometimes lowering payments, reducing principal, changing terms, or moving late charges and delinquency payments to the end of the loan can make a huge difference while saving you a lot of money. Saving money while staying in your home is an ideal situation we all would love.
Why should you work with Redo New England? Working with us ensures the process is simple, quick and effortless. We’ll work with you every step of the way; from going over your existing terms with you, to helping you negotiate with the bank on new terms, and everything in between. We’re here to work with you to get a favorable outcome. Contact us today for a free in home consultation to discuss your options and see which solution is right for you.