REDUCE YOUR MORTGAGE PAYMENT -- PROTECT YOUR FAMILY -- STAY IN YOUR HOME
LOSS MITIGATION CAN SAVE YOUR HOME AND SAVE YOU THOUSANDS OF DOLLARS
Prospero Solutions has partnered with eMerge Financial Advisors to provide several different loss mitigation solutions. Loss mitigation's primary goal is to prevent foreclosure, which both the homeowner and the lender want to avoid. Loss mitigation works to negotiate the homeowner's mortgage terms or to minimize the amount of loss. Loan modifcation, short sale and deed in lieu of foreclosure are all forms of loss mitigation.
LOAN MODIFICATION Loan modification is changing or modifying the terms of an existing loan, which may have a variable interest rate or may have a principal balance higher than the present value of your home, and working with a lender to change the loan's terms in response to the borrower's long-term inability to repay the current loan. Loan modification creates a solution for both the owner and the lender. The loan is adjusted so the homeowner is able to make their payments without any refinancing. Modifications may extend the payment term, reduce interest payments or reduce the principle of the note among other options. This means that if the client is behind on or struggling to make their mortgage payments, the lender may modify the loan to achieve a lower mortgage payment that is easier to afford. With the assistance of eMerge's affiliated legal networks and their top tier solution providers, the client will have an advocate on their side to help them find the best resolution possible.
Loan modification makes the loan affordable for you so you can make the monthly payments and allows the lender to keep the loan and not have to go through the expense of foreclosing on your property. Many times lenders are open to modifying a loan because the cost of doing so is less than the cost of default or foreclosure. Remember, they are in the business of lending money, not owning real estate.
Loan modification is becoming increasingly more and more popular with lenders. In many cases, loan modification will be the perfect solution to your current situation; however, negotiating with the lender for a modification on your home loan can be an overwhelming process. That is why retaining the services of an experienced Loss Mitigation Legal Firm is extremely important.
eMerge Financial Advisors' legal network can negotiate both residental and commercial loan modifications.
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