Subprime Loan Modifications

Homeowners who were considered to be ‘subprime’ borrowers are the ones most in need of loan modification. During the real estate boom lenders widened their guidelines to enable borrowers with less than perfect credit buy homes. Many of these borrowers put little or no money down and were offered interest only two (2) or three (3) year arms. Now that two or three years have passed their interest rates are adjusting upward drastically. When they go to apply for a refinance they realize that the program that they purchased the home with is no longer available and they do not qualify for a traditional refinance. Their options are to pay the new higher payment or lose their home. Being that many of these borrowers were just making ends meet before the rate adjusted there is no way that they can pay an increased bill. This is where more people need to realize that a subprime loan modification can help.

Once you contact The MOD Squad we will work to help you qualify for a loan modification. If you were able to make your payments before the rate adjusted then you are a perfect candidate for a subprime loan modification. Together we will prove that you are able to make your payments at a lower rate enabling you to keep your home. The bank doesn’t want your home back but they also do not want to process a modification only for you to foreclose down the road. Therefore, if we can show them that you are capable of repaying the note at reasonable interest rate they will be willing to work with us. This is our specialty, so let us help you.