Contact Us Loan Modification Options Foreclosure Prevention About Us Request for More Info
Full Name *
Telephone Number *
( ) -
Email Address *
State *
Get Started
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

Stopping a Foreclosure with a Loan Modification


I tried to refinance a mortgage with bad credit in order to avoid or stop house foreclosure, only to be denied? This is a common complaint. Mortgage lenders have tightened their lending standards to the point where it is nearly impossible to refinance a home these days, so many borrowers are stopping a foreclosure with a loan modification. This is as a result of the credit crunch and declining home values. You may not have enough equity to refinance. Most lenders expect 80% loan to value (LTV) or less. 75% is preferable. And, your credit has to be excellent.

However, you do have foreclosure prevention options. If your credit was good before you got to where you could no longer afford your mortgage, you could possibly refinance with FHASecure. FHASecure allows you to refinance up to 95% LTV. But, your credit has to be in pretty good shape to qualify, and this program is ending on December 31, 2008. So, if you want to refinance with FHASecure, contact us now.

If your credit is less than stellar, you may be able to still get bad credit mortgage refinancing through FHA. Another program was signed into law as part of the Housing and Economic Recovery Act of 2008, which was passed in July. This program allows people with less than perfect credit and a mortgage they cannot afford to refinance into low, fixed rate loans. And, you can finance up to 95% LTV with this program.

What if you're upside down on your loan?
In this case, it may be time to work with a loan modification lawyer who specializes in helping borrowers with less than perfect credit. Loan modification has no credit score requirements because it's not a refinance, but rather a renegotiation of your existing mortgage loan terms. A loan modification lawyer could help you negotiate a:

Special Forbearance - a written repayment agreement between a lender and mortgagor, which contains a plan to reinstate a loan that has been delinquent for at least 90 days.

Loan Modification - a renegotiation of mortgage loan terms that could include refinancing the debt and/or restructuring the mortgage terms. This could help you catch up by reducing the monthly payments to a more affordable level. You may qualify if you have recovered from a financial problem but your net income is less than it was before the default (failure to pay) occurred.

Partial Claim - an interest-free loan from HUD to bring your mortgage current. You may qualify if:

  • Your loan is at least 4 months delinquent but no more than 12 months delinquent.
  • Your mortgage is not in foreclosure.
  • You are able to begin making full mortgage payments.

When your lender files a Partial Claim, the U.S. Department of Housing and Urban Development (HUD) will pay the amount necessary to bring your mortgage current. A Promissory Note is executed, and a Lien is placed on your property until the Promissory Note is paid in full. The Promissory Note is an interest-free loan and will be due if you sell or leave your property, or when your mortgage matures.

The above-listed options won't damage your credit any more than it already is due to your mortgage payment being so far in arrears. The only other option to preventing foreclosure is a short sale--where you get the lender to agree to sell your property and accept less than what you owe as full payment for the mortgage. This will do further damage to your credit and should be used as an absolute last resort to prevent foreclosure, which is worse for your credit.

If you're facing foreclosure and want to know what your options are, contact us today. We'd love to help you get back on your feet and on the road to financial recovery.

Personal Information:
First Name*:
Last Name*:
Address (Line 1)*:
Primary Phone*:
Secondary Phone:
Estimate Your Credit*:
ZIP Code*:
(Line 2):
Mortgage Information:
Monthly Payment (1st)*:
Monthly Payment (2nd):
Monthly Income*:
Are you behind?*:
1st Loan Type*
2nd Loan Type:
In Foreclosure?*: