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 | LOAN MODIFICATIONS
Your Property Connection (YPC) has 3 different options for you to be able to modify your loans.
OPTION #1Self Modification
You want to try to do a loan modification yourself but don't know where to begin. Your Property Connections has some great negotiators and they are willing to help you. This is how it works...
YPC will do an initial conference call with your lender and you to see if they will even do a modification and if they do, what paper work to gather.
You will gather the paperwork and submit the paperwork then follow up with your lender once a week until someone has been assigned to your case.
Once someone is assigned YPC will work with your lender and you to come up with the best solution that fits your needs.
Cost - $750.00
OPTION #2Pennacle Holdings
YPC has joined forces with a company that provides a legal solution to assist the homeowner in affording their home. Pinnacle Holdings has a Law Division that will look at the details of your contract with the lender and hold them to their part of the contract. If there are portions of the contract that have not been upheld by the lender,then the lawyers can suggest and create a modification to your contract. (This happens more than you think)!!! If the lender will not do a modification you will received your money back less $650 dollars processing fee.
COST- $2500.00
OPTION #3A more "hands on solution" for now and your future
YPC has another company that will do a little more "hand holding" and planning. Patti, the owner will meet with you several times to do some financial planning with you to guarantee results for the modification and to help you in the future as well. Patti comes up with a suitable payment and writes a detailed proposal for the next step. Once she is finished with the proposal she sends it to an underwriter which does some more research and to make sure it is a doable deal. Then the underwriter turns it over to a lawyer who will work with your lender to make it happen and finalize the negotiations. If a solution is not found then your money is refunded less $500.
COST - $4,000
The solutions these options can have: - Lowering the principal balance of the loan to Fair Market Value
- Lowering the Interest rate and locking it in
- Freezing the interest rate and locking it in
- Extending the life of the loan
Any of these options will create a more affordable solution for the homeowner. The reason YPC has chosen these companies is because they are California based companies that offers
legal solutions. Because they are a California based company they are held to California Laws
which is very important. They even have a refund policy. The cost of these programs varies greatly because of the amount of service you receive with each one.
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