Do you need the Able Financial Solution?
A strong case can be made for pursuing loan modification on your own. After all, a loan modification is a personal negotiation with your lender for better terms on your mortgage. Even if you have representation, it’s still a personal process.
Here’s our take:
Although almost everyone is eligible for a loan modification, there is certainly a sliding scale of difficulty. Owners with fixed-rate mortgages, high incomes and multiple properties naturally have a lower probability of succeeding than owners with adjustable rate mortgages, low incomes and only one property.
The Obama Administration’s new loan modification program, the Home Affordable Modification Program (HAMP) makes it very easy for owners with less than $729,750 in total unpaid debt to secure an advantageous loan modification. For owners with larger unpaid mortgage debt, things are trickier.
At the end of the day, loan modifications are in the best interest of both owners and lenders, but lenders are not going to just agree to them without a fight. The loan modification process is really a negotiation. You pull together all of your bargaining chips, lay out the new terms you want, offer concessions on the terms you can concede to and draw the line when you’re pushed too far. Able Financial Solutions helps you do just this. We put you in the strongest possible bargaining position and help you develop a detailed strategy to navigate the negotiation. We know when lenders are likely to bargain and when they’re likely to stonewall, and we know how to craft your application in a way that hits their blindspots and gets you the restructured deal you need.
If you are already facing an uphill climb with your loan modification (total unpaid debt above $729,750, multiple properties, fixed-rate mortgages), than you may want our counsel to put you in the best possible bargaining position. Learn where you stand by starting the process today, and we’ll tell you if we can help you get on the path to a manageable financial future.