You wouldn't go to court without an experienced attorney. Why would you go to your lender without an experienced loan modification specialist?

Due to recent demand and the increasing cooperation of the U.S. government and various lenders, Loan Modification process has had a tremendous amount of success assisting borrowers avoid foreclosure while staying in their home. Our Loan Modification Specialists will provide a free initial consultation to understand your current situation and then we’ll put together a customized plan before going to your lender with the best solution for you. 

Loan Modificationis when a lender agrees to modify any or some of the terms of the mortgage, making it more affordable for you.

These changes may include:

          • Changing the monthly payments based on reduced loan amount
          • Reducing or modifying the interest rate
          • Extending or modifying the term of the loan
          • Combining any of the above

Loan Modification will give you a fresh start, bringing your mortgage up to date after capitalizing any delinquent interest, escrow, fees, and other costs based on investor guidelines. 

Acting quickly should be your number one priority, as Passport Realty Loan Modification Specialistwill need to develop a plan, document your current financial situation, and contact your lender to begin negotiations on your behalf in order to stop foreclosure and save your home.

Other solutions to avoid foreclosure and KEEP YOU IN YOUR HOME include: 

Reinstatement: Occurs when the property owner pays off the amount in default to bring the loan payments current in order to stop the foreclosure process and return to the original terms of a loan. After identifying that a reinstatement is the best and most feasible foreclosure alternative. Our specialist will work with you to determine how best to produce the funds and communicate with the lender.

Repayment Plan: This foreclosure option lets you repay part of your delinquency each month, in addition to your regular monthly payment. A repayment plan is the perfect option for someone who experienced momentary financial hardship, but is now back on their feet. Our specialist will negotiate with your lender to spread the past-due amount over a specified period of time. 

Forbearance:In order to stay in your home, a lender will agree to delay or reduce payments for a short period of time, with the understanding that another option will be used to bring your balance current. Our representative will negotiate to get you the time you need to determine the best solution for you and, in many cases, will succeed in combining a Forbearance Agreement with a Reinstatement or Repayment Plan.