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The Mortgage Modification Guide

How much can I save on my mortgage payments?

The amount we would like to have you save is whatever amount will get you down to spending 35% of your income or less(all expenses included).

In addition to that, a modification can make a huge impact in the long run. With a mortgage modification, ideally your interest rate will be lowered and you will have a lower monthly payment, since most people modify because they can't afford their mortgage or their house isn't worth what it used to be, you can save money in the long run. Even if it's a small amount it can make a huge difference. If you're not sure if you have enough reason to modify, call the number at the top of the screen to talk to a representative.

Act now and find out if you might be eligible
for a mortgage payment modification.

Problems We Fix*

“...we will create new incentives so that lenders work with borrowers to modify the terms of sub-prime loans at risk of default and foreclosure ” - President Barack Obama

Many peoples interest rates are above market rates or are on an ARM schedule that has already gotten to be too much to handle. Mortgage modification are designed to create a working mortgage model that allows the lender to make a profit but keep the home owner in their homes. Please call to see what can be done for you as result vary from case to case.

Mortgage Payments Savings Calculator

The amount you are saving per month will be determined by the interest rate, the principle and the term on the mortgage. However, what you save is not limited to how much less you are going to be spending per month. Although that may be a very important aspect, and perhaps the most important to you at the moment, in then end you could end up cutting the over all amount paid on the mortgage from the interest on the mortgage. If you have ever calculated what a mortgage will actually cost you, you will notice it's much more than the actual cost of the house. By reducing your monthly payments whether it's through principle reduction, interest reduction or by other means you may not only be lowering the final cost, but you could be creating the opportunity to pay more than you are required in the future. This will, again, lower your over all cost. Though we cannot tell you in advance the amount you will save, or that you will save at all (our goal is to keep you in your home, which in some cases may mean that your mortgage is extended). To calculate how much you will save, if the principle is not changed, figure out the difference in how much interest you will pay over the course of the mortgage. This will be equal to the amount you can save.

Continued: How can I apply for a mortgage modification?

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