Are you struggling with your mortgage payments? Have you suffered an unexpected life event such as divorce, loss of your job, illness or a short-term or permanent disability that prevents you from working? Are you experiencing difficulty managing your household debt and struggling with your mortgage payments?
Our Company, GVC Property Solutions Inc. (GVCPS), is a real estate investment Company. We understand the stress and hassles that you face when you are experiencing unmanageable or unwanted mortgage payments, experiencing difficulty selling your property through traditional methods or when you just need relief from your property situation for any reason.
Our Company provides Free consultation services to people who are experiencing difficulty making their mortgage payments along with any other mortgage problems that you may be facing. With 25 years of experience, we have earned a reputation for helping people. Our job is to provide you with peace of mind and immediate financial relief regarding your mortgage and property situation.
If you are experiencing long-term financial difficulties and struggling with your mortgage payments and as a result, missing your mortgage payments, foreclosure will be inevitable. The stress of your financial situation may cause you to ignore your financial problem. Don’t. If you would like to get your mortgage payments back on track, protect any equity you have in the property along with protecting your credit, you may still have options with your mortgage lender with a modification of mortgage:
Modification of Mortgage
If you can’t pay your full mortgage payment indefinitely, your lender may agree to offer a modification of mortgage. Your lender may agree to adjust your monthly payments and the loan period to reflect changes in your financial situation. The interest rate may be modified from an adjustable rate to a fixed rate and penalties may be waived.
A modification of mortgage is a process where the terms of your mortgage are modified, or changed, to make the loan more affordable. The term of your loan may be extended, reducing the amount of principle that must be paid every month.
If your lender agrees to a modification of mortgage, your lender may write off some of the loan principle, reducing the total amount owed on the loan or your lender may allow you to pay outstanding mortgage payments in installments or your lender may defer some of your mortgage payments to a later date.
A modification of mortgage can be in your lender’s best interest, however, approval of a modification of mortgage can be difficult to obtain and it’s at your lender’s discretion to decide if they will allow a modification of mortgage or not.
A modification of mortgage can be temporary. The result is that you, the borrower, are capable to keep up with your mortgage payments and your lender is able to avoid the expense of the foreclosure process and keep a performing asset on it’s books rather than a potential liability.
When financial circumstances impact your ability to make regular mortgage payments, it’s important that you address the issue immediately. With early intervention, cooperation and a well-executed plan, you can work together with one of our mortgage professionals at GVCPS to find a solution to your mortgage problems.
Our Company will help you regarding a modification of mortgage by providing you with proper advice and help you apply for a modification of mortgage according to your lender’s consideration.
It’s important that you contact your lender directly or our Company regarding looking into a modification of mortgage as soon as you are experiencing financial difficulty and begin missing your mortgage payments. Address any difficulties you are having with your mortgage payments immediately. Acting fast will help to keep your best options open to resolve your situation so you can keep your house, protect your equity, protect your credit and avoid foreclosure.
The principal purpose of a modification of mortgage is to provide your mortgage lender with sufficient documentation to evaluate the risk of modifying your mortgage. The main question your lender is trying to answer is: can you afford to pay the new modified mortgage payment.
A modification of mortgage is granted by your mortgage lender. A modification of mortgage is an arrangement that reduces a mortgage borrower’s mortgage obligations during a time of financial difficulty. A modification of mortgage is intended to make it easier for the mortgage borrower to keep up with their mortgage payments and avoid losing their home, their equity and their credit rating to foreclosure.
We Can Help You With The Following Regarding a Modification of Mortgage:
- Discuss a modification of mortgage with your lender by reducing your current mortgage rate.
- Discuss a modification of mortgage with your lender to allow you to make up any outstanding mortgage payments over a period of time without incurring further penalties.
- It’s easier to obtain a temporary modification of mortgage. Long-term modification of mortgage changes such as extending your mortgage loan term or writing off your mortgage principle are usually more difficult to be approved by your lender. We will discuss all of the short-term and long term modification of mortgage possibilities with your lender on your behalf.
- Most mortgage lenders are more willing to grant a modification of mortgage if there is a reasonable expectation that you will be able to return to a normal mortgage payment schedule down the road. It’s more difficult to obtain long-term relief for a permanent change in your financial situation, however we can discuss all of the modification of mortgage possibilities with your lender on your behalf.