Mortgage Problems? We Can Help With A Modification of Mortgage in BC
If you are having difficulty paying your mortgage or can’t pay your mortgage, contact us. We are a Real Estate Investment Company that specializes in providing immediate solutions to people who are experiencing difficulty making their mortgage payments each month in Abbotsford, BC and surrounding areas.
The possibility of losing your property and your hard earned equity is extremely stressful to experience. We can help you with your monthly cash flow management problems to unmanageable or unwanted mortgage payments along with protecting any equity you may have in the property and protecting your credit.
If you can’t pay your mortgage, foreclosure will be inevitable. A Modification of Mortgage is one alternative to save your property from foreclosure. Contact us to help you with a Modification of Mortgage in Abbotsford, BC. A modification of mortgage is a change to the original terms of your mortgage, typically due to financial hardship.
The goal of a modification of mortgage is to reduce your monthly payment and this can be achieved in a variety of ways. New monthly payments will be calculated based on amendments made to your initial mortgage contract. Some types of modification of mortgage are better than others. Your lender may not offer or agree to all of them, although additional options may include:
Your lender can eliminate a portion of your debt, allowing you to repay less than you originally borrowed.
Lower interest rate:
Your lender can also reduce your interest rates, which will reduce your required monthly payments. Sometimes these rate reductions are temporary, and you should understand all the details of the mortgage modification to prepare yourself if your payments increase again.
You will have more years to repay your debt with a longer-term loan, and this will result in lower monthly payments.
Convert to a fixed rate:
You can prevent problems by switching to a fixed-rate loan if your adjustable-rate mortgage is becoming unaffordable.
This can be a good solution if you are experiencing short term financial difficulties. You will have to make up the missed payments that may be added to your mortgage principal.
If your lender approves your loan modification, you need to be aware of the circumstances that come along with a modification of your mortgage. Our Company specializes in mortgage problems and solutions. If you find yourself struggling with your mortgage payments, contact us. We have experienced consultants that can provide immediate mortgage solutions to your property and overall financial situation.
We understand the stress and hassles that you face when you are experiencing unmanageable or unwanted mortgage payments. Contact us to help you with either a mortgage loan modification or to explore other options that will meet your individual needs and financial situation.