Business Loan Renegotiation
If you find that you can no longer meet the payment terms of your mortgage, then a loan modification, also known as a loan workout, may be the solution.
Some examples of hardships that lenders consider during the loan workout process include:
- Adjustable Rate Mortgage Reset/Payment Shock
- Loss of Job
- Reduced Income
- Failed Business
- Job Relocation
- Death of Spouse or Co-Borrower
- Marital Separation
- Military Duty
- Medical Bills
- Damage to Property (natural disaster or unnatural)
One of the items your lender will ask for during the loan workout or loan modification process is a hardship letter. This letter is a written explanation as to what has caused or will cause you to fall behind on your mortgage, and it vital in helping you achieve a loan workout. This letter acts much like an outline or biography of your current life issues that are affecting your ability to meet your financial obligations.
We are experienced with the laws that lenders, brokers, loan officers, escrow officers, title companies, appraisers and notary publics must follow. We can help you navigate through those laws to achieve your loan modification. Call us, or fill out our online contact form, to begin the loan modification process today!
Please review our site and see what we may be able to offer you.
Feel free to Call us at (954) 320.6940 .