Home First is an industry recognized loan modification and short sale negotiations consulting firm and they are more than happy to help you with any questions you might have in regards to your Loan Modification.
- How long is the Loan Modification process?
It varies with the complexity of the file, and the backlog with both the Servicer and Investor. Ive literally gotten clients terms in a week, and there have been others for whom Ive battled for over six months. Each client has a unique set of circumstances, and weve always felt that their family deserves whatever time it takes to craft the very best modification for their situation.
- What are the typical results?
The result is a payment that fits within the clients budget so that they can stay in their home. Whether the terms are 2% rate for 40 years, 5% interest only, 4% but deferring 25% of the principle balance, or any of a hundred other formulations, the target is always the same – the lowest possible payment for our client. The recipe itself is determined by the investor and what they want to do with that segment of their portfolio.
To read our former blog please visit Home First, Inc – What is Loan Modification and Why is it Important? and Home First, Inc – Loan Modifications Questions – Tutorial 1