LOAN MODIFICATIONS

Your Property Connection (YPC) does not participate in Loan Modifications because we have found that 90% of the loan Modifications that are done, fall back into a default state for what ever reason, and we see those people back on our doorstep to go through with a short sale.

Self Modification
You can do a loan modification yourself. Your Property Connection has some great hints for you to be able to work this yourself and we are willing to to give you everything we know.

Pay for the Modification
Your Property Connection does have some referrals for you. These are all California based companies. If you are going to venture out on your own to look for a modification company here are some tips.

• Look for companies with in your state
• Only use a lawyer to modify a contract
• Make sure there is some sort of Money back guarantee
• READ WHAT YOU SIGN
• Check out a minimum of 3 companies before choosing
• Check out the company you choose
• Follow up with your own lender to make sure that company is doing what they said they would

The solutions you can have:

• Lowering the principal balance of the loan to Fair Market Value (hardly ever)
• Lowering the Interest rate and locking it in (most of the time)
• Freezing the interest rate and locking it in (most of the time)
• Extending the life of the loan (50/50)

COST: $2000 - $4500