Mortgage Modification

We will handle every aspect of your mortgage modification negotiation and prepare a comprehensive loan modification package for the Lender, including but not limited to:

Financial Prospectus Workout. Detailed and documented to include all income, assets and payments made, from your mortgage payment to your dry cleaning bill. This allows a realistic view of your financial abilities to be sure you can continue to make your mortgage payments for years to come once the loan is restructured through a mortgage modification.

Letter of Hardship. We will take your reasons for financial hardship and insert it into a package that is easy to navigate through so the lender better understands why you need mortgage modification financial relief.
Cost Benefit Analysis for the Lender. We will document exactly what the lender stands to lose if they do not agree to your mortgage modification. We will document the costs associated with the Pre-Foreclosure, Foreclosure and Bankruptcy Process. The costs associated with missed Property Tax and Home Owner’s Insurance. The costs associated with Attorney Fees for the Foreclosure, Bankruptcy and Eviction Proceedings. The lender will then attempt to auction the property. It will fail because they are seeking much more than the property is worth. It will then become a REO (Real Estate Owned)property. We will then assess the costs associated with selling the property: Rehabilitation Costs, Realtor Fees and Holding Costs. We show a loss to the lender between 20% to 70% on first mortgages and 120% on second and third mortgages. This encourages them to except a mortgage modification.

Financial Analysis verifying payments your can afford. We will document what your financial situation will be based on your new, lower monthly payments.

CMA. We will do a Comparative Market Analysis on the property. We DO NOT pull comps on properties that have sold 6 to 12 months ago because those prices do not apply to today’s market.

Loan Restructuring Proposals. We will write 2 new loan scenarios that makes financial sense to both the lender and to you. We will then do a profit forecast documenting how much the lender stands to make after year 1, 5, 15 and 30.

Cross Cost Analysis. We will do a side by side comparison to the lender based on the figures we derive from the Cost Benefit Analysis and the Loan Restructuring Proposals. It comes down to basic mathematics, What Is Better? To take a loss of $150,000 by not doing a mortgage modification or make a profit of $15,000 by accepting our terms for a loan modification.

Mortgage Modifications

• Mortgage Modification Lawyer
• Mortgage Modification Attorney