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Success Stories

The Mortgage Note Mod Company believes if there is a will then there is a way to stop the foreclosure process. Our team will help accomplish your goals whether it’s to keep or sell your home property.

Affordable Repayment Plan
Mortgage Loan Modification
Pros and Cons of Loan Modification Agreements
Restructured Mortgage
Mortgage Refinance
Forbearance Agreement
Deed-in-Lieu of Foreclosure
Reinstatement Plan
Foreclosure Lawyers

Mortgage Rate Reduction
Loan Modification
Lien Stripping
Foreclosure is something most homeowners thought could never happen to them. The unfortunate reality is that hundreds of thousands of homeowners have experienced a foreclosure in the last two years. Now with many lenders and banks in jeopardy of bankruptcy, loan modifications are becoming more frequent much earlier in the process.

Deed-in-Lieu of Foreclosure
Bankruptcy Protection
The Mortgage Note Mod Company can help you maintain your homeownership by negotiating on your behalf directly with the bank that services your loan.

Bankruptcy vs. Modification
Negotiating with Loss and Mitigation
Short Sale Considerations
Foreclosure Laws
Our legal and negotiating expertise can help save your house while reducing financial stress burdens.
Predatory Lending Lawyers
Truth in Lending Law
Stopping a Foreclosure with a Loan Modification

Consumer Protection Advocates
Mortgage Resources
FHA Mortgage Lenders
Loan Blogs
Hope Organization

FHA Mortgage Lenders


FHA lenders may have a solution if you're behind on your mortgage payments that could prevent a home foreclosure. Over 50% of foreclosures could be avoided if borrowers contact their lenders to try to work something out before it becomes too late. Whether you choose to refinance your loan or do a loan modification depends on your circumstances and credit. With lenders tightening down their lending standards, refinancing your home needs good credit unless you qualify for FHASecure.

FHASecure, a program under the Economic Stimulus Act of 2008, specifically addresses foreclosure prevention and allows borrowers with high-risk subprime adjustable rate mortgages (ARMs) the opportunity to refinance to a fixed-rate mortgage loan. This program is only for those facing foreclosure. But, FHASecure expires on December 31, 2008. The HOPE for Homeowners Act, a Federal Housing Administration (FHA) program under the newly passed Housing and Economic Recovery Act of 2008 also addresses the foreclosure epidemic by allowing holders of subprime mortgages to refinance into fixed rate loans. But, if you refinance under the HOPE for Homeowners Act, you are required to share at least 50% of any equity you build in your home with the FHA should you decide to refinance again later or sell your house. Contact our lending partners, FHA Mortgage Refinance Loans to speak with a loan officer directly.

Should I Refinance or Do a Loan Modification?
If you don't qualify for refinancing or are not interested in sharing your home equity with the FHA, you may want to consider a loan modification. The U.S. Department of Housing and Urban Development (HUD) defines a loan modification as a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford. This typically involves folding your past-due mortgage payments and associated fees and interest into the balance of the loan and re-amortizing the new balance.

Sometimes, you can get a temporary forbearance, which allows you a break from making mortgage payments for an agreed-upon period of time, which gives you a chance to get on your feet financially. In short, your mortgage loan terms are modified, and you are given a fresh start in managing your payments. A loan modification also brings your account current immediately. It has no negative impact on your credit other than any you may already have had before doing the loan modification.

Typically, loan modification happens in the later stages after 60 or 90 day late payments. And, a lot of people say that loan modification is a good last ditch option prior to foreclosure. But, you don't necessarily have to be late on your mortgage to do a loan modification. You could save yourself a lot of money by simply doing a loan modification on your existing mortgage loan. Refinancing costs money because it requires an appraisal of your home, and there are closing costs involved. However, loan modification doesn't have closing costs and generally doesn't require an appraisal, although the lender does have the option of having your home inspected to make sure that you haven't done anything to your home that could affect its value. Fees for loan modification are also generally lower than for refinancing, as well.

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