Frequently Asked Questions
Q. What is a loan modification?
There are various types of Loan Modifications. Your mortgage can be modified using a state or government program. Or through a traditional Investor driven modification. All modifications are designed to either:
– Lower your current interest rate to an affordable amount
– Reduce the Principal Balance closer to current market value
– Extend the term of the loan up to a 40 year term.
Q. What is a Forbearance agreement
Q. What is a Short sale?
Q. What if I do not live in the property?
Many times Investment properties and 2nd homes can still be modified short sale is a term used to sell
Q. What if I have been denied in the post?
Do not worry. There may be solutions your lender is not disclosing to you. Our offices uses the same calculations and formulas that the banks use to calculate affordability for repayment. We make sure your case is treated and processed correctly within your Lender’s office. To ensure the best modification for you.
The MPAT Negotiators are skilled in all theses areas and we have constant success with both Loan Modifications and Short Sales.