FAQ
What is a loan Mod?
A Loan Modification is a change in the terms of your loan to reduce your monthly mortgage to an amount you can afford.
What is a hardship letter? The hardship letter is a in depth explanation as to why you fell behind on your mortgage payments to the lender. There is no such thing as overexplaining, by giving specifics to the Lender there is less room for doubt. They also want to know how the loan modification will help you get back on track. If you don’t know how to write a hardship letter, a HUD counselor with experience can assist you
What is the goal of a loan modification?
A loan modification is made to help the borrower catch up and get back on track and avoid foreclosure.
What are the benefits of a loan modification?
A loan modification can help you prevent foreclosure, reduce monthly payments, and affect your credit less in comparison to a foreclosure.
How can a loan modification reduce my monthly payments?
A loan modification can reduce your monthly payment by reducing the interest, extending the number of years the loan has to be repaid, forbearing, or reducing the principal balance.
All that hassle can add stress, months to the process, and in the end after paying the agent’s expensive fees, you may or may not be ahead of the game.
HUD Approved Agencies That Can Help With Loan Modification or Help You Bring Your Mortgages Current
Just put in your information, click "Submit" and we'll email you the Free Loan Modification PDF right away.Navigating the Foreclosure Process with Lenders is very difficult. Luckily There are Resources available to you. Here are just a few options that our team has found to be very useful to the community.
Our team has seen the most success from Chicanos Por La Causas
Download CPLC PDF
Just put in your information, click "Submit" to receive the steps and CPLC PDFMore Information about HUD
- HUD Stands for U.S. Department of Housing and Urban Development
- Take me to HUD Website
- Give me a list of HUD Approved Agencies in Southern Nevada
This information should be used as a guide. For more detailed information you may contact HUD Directly. SNV Properties | LLC is not an approved HUD Agency and does not process loan modifications.
