Loan Modification Calculators

FORMS

ACTIVE LOAN MODIFICATION CLIENT START-UP PACK
Download the Active Loan Modification Client Start-Up Pack

PRESIDENT OBAMA’S FEDERAL LOAN MODIFICATION GUIDELINES
Download President Obama’s Federal Loan Modification Guidelines

FAQ'S

Frequently Asked Questions

• Is a Loan Modification the Same Things As a Loan Refinancing?

  Loan Modifications and Loan Refinancings are different processes.

  With a loan modification, a borrower’s current mortgage is simply adjusted (interest rate, loan term, principal amount and/or payment requirements) in order to achieve an affordable, manageable monthly mortgage payment for the borrower.

  With a loan refinancing, on the other hand, a new closing will take place. The end result may be a more affordable monthlt mortgage payment for the borrower, but this option can result in prepayment penalties, taxes, closing fees, legal fees, property appraisals, etc… which the borrower may incur.

• Why Would a Bank Agree to a Loan Modification?

  A Loan Modification is a resolution that is mutually beneficial for the borrower and the lender. According to the Center for Responsible Learning, citing a report of the Joint Economic Committee, a foreclosure sale costs a bank fifty thousand dollars, on average, per property. In addition, a property sold at a foreclosure sale will likely not sell for its full market value but will, instead, sale for a fraction of what the property is actually worth. It is therefore in the bank’s best interest to work with a borrower to make a loan more affordable and to prevent the need for a foreclosure sale, to the extent possible.

• Will a Loan Modification Hurt My Credit?

  A loan modification will not negatively affect a borrower’s credit report. A loan modification can only improve the credit report of borrowers who are delinquent or are in jeopardy of becoming delinquent on payment of their mortgage payments due to the imbalance between their monthly income and expenses.

• Can I Modify My Loan On My Own?

  Borrowers may absolutely contact their lender(s) and attempt to modify their loans on their own. Based on our extensive experience with the loan modification process and the interactions we have had with satisfied clients, however, we have found that the team of trained professionals at Active Loan Modification who are assigned to a borrower’s case are often able to negotiate with a lender and obtain a more beneficial loan modification result than if a borrower had attempted to perform the same process on his/her own.

• What Kinds of Loans Can Be Modified?

  Almost any time of loan can be modified. Based on our extensive experience with the loan modification process, however, we may not accept a potential client if we feel their particular situation may not be a good candidate for a loan modification. Additionally, if we cannot modify your loan significantly, we will give you a full refund – guaranteed. Contact us today for a free consultation so we may review your particular case and determine if a loan modification is a beneficial approach for you.

• Can I Qualify For a Loan Modification If I Am Current With My Mortgage Payments?

  Borrowers do not need to be delinquent on their mortgage payments to qualify for a loan modification. Due to numerous factors which may affect a borrower’s ability to pay their monthly mortgage payment with ease, you may be qualified for a loan modification. Lenders do not require your being behind in payments. A loan modification is the appropriate approach for a borrower whose debt exceeds their income or who is in jeopary of this situation. Based on our extensive experience with the loan modification process, however, we may not accept a potential client if we feel their particular situation may not be a good candidate for a loan modification. Additionally, if we cannot modify your loan significantly, we will give you a full refund – guaranteed. Contact us today for a free consultation so we may review your particular case and determine if a loan modification is a beneficial approach for you.

  Please note that if a borrower is delinquent on his/her mortgage payment, this delinquency does not hurt Active Loan Modification’s ability to effectively negotiate a loan modification on his/her behalf.

• How Can I Afford to Pay for Loan Modification Services When I am Behind On My Mortgage Payments?

  At Active Loan Modification, we understand the realities of today’s marketplace. We know the pressures our clients are facing and we understand that every dollar counts more than ever. We also understand our clients’ need for a successful loan modification and the significant monetary value such a modification can offer our clients. For this reason, Active Loan Modification is proud to offer the following:

  1) Our standard fee to perform a loan modification is as follows – One Mortgage - $2,000.00; and Two Mortgages - $2,200.00. In the event a borrower has received a Notice of Foreclosure Sale from a bank, our fee may increase slightly. This will be dealt with on a case-by-case basis. Unlike other loan modification firms, Active Loan Modification’s fee is independent of the principal amount of the mortgage(s) and is, in some cases, less than half the fee our competitors charge. Additionally, if we cannot modify your loan significantly, we will give you a full refund – absolutely guaranteed.
  2) We will accept a 50% deposit upon commencement of the loan modification process and the remainder of our fee once the loan modification has been successfully completed.
  3) We allow for Payment by Credit Card and by Check (link to “Payment Center” which is on top right) as a convenience for our clients.