Frequently Asked Questions

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1) How much money can I save?

Typical changes to your monthly mortgage payment can be equal to 31% of your gross income, reducing the interest rate down to a minimum of 2%, extending the amortization of the loan to a maximum of 480 months or a forbearance of the unpaid principal balance typically no greater than 30%. Usually clients make back our fee in 7 months or less.

2) Are the results guaranteed?

Once we interview you and show the options available over the past 5 years there are 4 common mistakes customers make that negatively impact the results. Be honest with us, follow the directions we send you, take the time to complete the forms and if any questions arise throughout the process either verbally or written we strongly advise that you let us help you answer them.

3) How do I know I qualify?

We ask you a list of questions during the interview process based on the program guidelines to determine eligibility. Usually if you don't qualify for a refinance you will qualify for a modification.

4) Whose income do I use do determine eligibility?

Whoever is on the mortgage.

5) Are 2nd homes and investment properties eligible for a loan modification?


6) What is the different between a modification and a refinance?

A modification typically has lower rates & fees than a refinance there are no credit checks, appraisal or closing.

7) How long does the process take?

The lender usually takes 30 - 45 days to respond.

8) Do I have to pay upfront before you do any of the work?

No, we interview you show options, preform the NPV test, loan analysis, send the package release form and then upload your information to our payment processor.

9) Do I get to skip a mortgage payment?

If you can afford to make your payment we recommend that you continue doing so.

10) Do you ask us to stop making payments?

No, as of June 1, 2012 you no longer have to be late on your mortgage to qualify.

11) Will this process affect my credit score?

If you decide to make your mortgage payment more than 30 days late it will impact your credit.

12) I've been turned down before why will this time be different?

While program guidelines change all of the time, our legal letters ensure your lender won't try and "push us around or strong arm us into a situation that's not in your best interest".

13) Why would my lender want to modify my mortgage?

Most lenders took TARP money from the federal government and are required to help you if you qualify for the program.  A foreclosure cost lenders on average 50K, if the lender can modify your mortgage ay to the tune of 40K the way the situation is they are saving 10K.  Every time a lender forecloses on a property they need to keep 5x the amount of that bad debt in cash on the books, lenders can't afford to do that. Your lender knows you could probably go buy another property in your neighborhood for 30% that what your current property is mortgaged for. Your lender doesn't want another vacant, dilapidated property on their hand they are in the business of collecting interest and something is better than nothing. Your lender isn't in the business of selling real estate.

14) How do I verify the results your company has helped homeowners achieve in the past?

On our website we have a section called success stories which we post some past performances; in addition to that we can send a copy of the modification agreements upon request.

15) What is the process like?

What we do next is Net Present Value (NPV) Test the same software the lender uses

Next we perform a loan analysis. 

Then we upload your information to our payment processor.

At that point will send you the package release form complete the form and return it to us.

Please contact us to confirm receipt.

Then we will send the complete package which is essentially 2 steps.

Step 1 you are sending 2 letters to your lender that have already been written for you.

The 1st letter is Qualified Written Request (QWR) which your lender has to respond to per RESPA.

(Real Estate Procedures Act)

The 2nd letter is called a Demand Letter your lender has to respond to per Truth in Lending (TIL).

The remaining forms get sent to us for review before being submitted to the lender.