Nevada A+ BBB Mortgage Loan Modification Program | Las Vegas, Reno, Henderson
For A+ BBB Nevada A+ BBB Mortgage Loan Modification Services go to www.YourHomestart.com
When people think of Nevada, Las Vegas frequently comes to mind. It is attributed to "Sin City", gambling, extravagant clubs and endless shows, but despite the money in the casinos flowing, Nevada has the highest foreclosure rate in the country. According to RealtyTrac.com, one in 23 of Nevada's homes has recently received a foreclosure filing. What many people don't realize is that it is not too late to get help! A loan modification is a renegotiation of the terms of your loan to make mortgage payments more affordable and most importantly to keep you in your home!
The Obama Administration has created a plan called the Homeowner Affordability and Stability Plan to save the struggling housing market, also known as HASP. By modifying distressed mortgages, HASP will help struggling borrowers to stay in their homes. Lenders actually prefer to modify loans because it is less expensive than the costly foreclosure process, but HASP gives lenders extra incentive to lower monthly mortgage payments. Lenders will receive $1,000 for each loan modification and can also receive an additional $1,000 a year for up to three years, if the borrower makes consistent payments. In addition, the borrowers could receive a principal balance reduction of up to $1,000 a year, for up to 5 years, for making consistent payments.
Some of the major lenders developing government Loan Modification Programs are Wells Fargo, JPMorgan, Bank of America, Countrywide and CitiGroup. HOMEstart has established personal relationships with all of the largest mortgage lenders to expedite the loan modification process. HOMEStart's experience working in the loan modification industry since day 1 has provided them with great expertise in working through even the most "difficult applications" and terms. Due to our hard work and professional work ethic HOMEstart has been able to establish a great status deal with loan modifications and look forward to helping many more homeowners.
The Better Business Bureau (BBB) awarded HOMEstart as an A+ rated loan Modification Company. BBB's grade (BBB Accreditation rating) represents BBB's degree of confidence that the business is operating in a trustworthy manner and will make an exceptional effort to provide the contracted services, while also providing a high degree of customer service.
For more information please visit www.YourHomestart.com
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What is a Loan Modification? A Loan Modification is a permanent change in one or more of the terms of your loan. The purpose of a loan modification is to allow the borrower to meet the new terms, allowing them to prevent foreclosure. A loan modification is not a refinance; it is the restructuring of the loan terms. In other words, it is a contractual agreement between the Lender and the Borrower to provide long term relief from unaffordable loan terms.
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