Florida Loan Modifications has been serving families like yourself for more than 25 years. We serve loan modifications to clients locally here in Florida and Nationwide. Please use this site as a resource to learn more about loan modifications and how they can help your family save your home from foreclosure.
For ailing homeowners, the $75 billion Obama mortgage modification program should provide a relief from the rising amount of foreclosures and offer homeowners a way to save their homes from foreclosure.
The $75 billion plans to stop the foreclosure crisis by making home loans more affordable for up to 3 to 4 million homeowners at risk of foreclosure. The Obama program sets up incentives for loan modification specialists to modify mortgages for homeowners and provide a structured relief plan with lower monthly payments for 5 years to allow homeowners a chance to stay in their home and prevent foreclosure.
Of the homes that are being modified, 65% are said to be able to turn around their mortgage payments with a reduction in interest rates to 3-4%. The interest rate can even go as low as 2% to ensure that the payment is 31% of the borrower’s income.
For the majority of homeowners, mortgage modifications provide the best way to save their homes from foreclosure, and it’s in the homeowners best interest to contact their nearest loan modification company and seek help via a loan modification.
