NJ 1st Choice Realty, LLC is Home retention company striving to help homeowners remain in their home. We specialize in negotiating with mortgage lenders and servicers on behalf of homeowners who fell behind on their mortgage payments or who can no longer afford their mortgage because of financial hardship.
What is a Loan Modification?
A loan modification is a work out between a mortgage lender or servicer and a homeowner. The mortgage lender or servicer may agree to modify the terms of the homeowner's existing mortgage to either reduce the homeowner's monthly payment or his interest rate, or the principal of the loan if the homeowner can show proof of financial hardship.
You may be qualified for a loan modification if you have in one of the following situations:
1. Loss of Income 2. Reduction in Income
3. Death or Serious Illness 4. Increase Expenses
5. Unaffordable Mortgage 6. Adjustable Interest Rate
7. Negative Equity, etc...
These are just a few hardship example of what that can cause financial hardship and that may help a homeowner qualify for a loan modification.
If you are facing foreclosure or are having diffilcuties making you mortgage due to one or more of the reason listed above or another that create a financial hardship for you and your family Click Here to get pre-qualified.
