Loan Modification

LOAN MODIFICATIONS

A loan modification is a great option to save your home from foreclosure. If a home owner cannot afford to make their monthly payments; due to financial stress or a faulty loan, this could be a great option. This is the first step to explore in a pre-foreclosure situation.

Great Realty specializes in presenting a case and the negotiation process with the banks to get a modification approval. Some negotiations could bring in a lower monthly payment, a lower interest rate or a principal reduction.

Every negotiation process is different and is based on the homeowner’s and his family’s personal situation. We thrive to obtain a late payment forgiveness to waive or reduce the penalties charged to alleviate the overall cost. We aim to present to the bank the best case for you, therefore, you can have a fresh start with an affordable mortgage.

Great Realty, analyzes each case individually and personalizes the negotiation process. Before our team commits to any loan we have a prequalification procedure. It only takes 24 hours and we will let you know what we can do for your property. Once the case is  pre-approved we move to the contract stage and start negotiating with the bank. The modification process could take from 2 weeks up to 4 months.

Our commitment to you, our client, is to provide you a smooth negotiation process, avoid foreclosure and save your home. If the modification doesn’t get pre-approved or the new modification is not within your budget, we have other options. We are eager to start with saving your home and if it’s not possible we will still continue to help you avoid foreclosure. This is the one stop transaction experience.