Mortgage Modifications
PHL can help clients obtain mortgage modifications in order to save their home from foreclosure. Many borrowers have loans that are upside down, which call for a government mortgage modification.
The Federal Home Affordable Modification Program (HAMP) was enacted to help homeowners save their main residence so that they can continue living in it. This special government program has facilitated mortgage modifications for millions of homeowners since February 2009. When you modify your mortgage, you are able to get better terms such as:
One of the benefits of a mortgage modification is that it does not require a borrower to pay upfront fees in order to enter into it. To qualify for a mortgage modification, a borrower must meet certain criteria such as having a first-lien loan and providing full income documentation. In addition, a homeowner must not have already undergone a loan change under the program.
PHL will perform a free assessment of your existing financing to see what options are available for you. They can provide full guidance and support throughout the entire loan process. With a mortgage modification, a client will be able to repair their credit report by becoming current and eliminating their delinquency. A borrower can have peace of mind knowing that they will be able to save their home.
The modify mortgage process can often be lengthy and requires a loan professional that thoroughly understands industry guidelines and requirements. PHL will handle every aspect of the loan process for you, from correspondences to phone calls. They will provide you with an update on your file on a regular basis and can even visit your home for an evening or weekend appointment. PHL is a local lender that provides a personal touch, which makes a mortgage modification more pleasant.
Choosing the right company is important. If you need to begin an application for modify mortgage, then you should contact PHL to get more information.
The Federal Home Affordable Modification Program (HAMP) was enacted to help homeowners save their main residence so that they can continue living in it. This special government program has facilitated mortgage modifications for millions of homeowners since February 2009. When you modify your mortgage, you are able to get better terms such as:
- lowering the monthly payment,
- locking into a fixed rate versus a variable rate,
- acquiring a lower interest rate,
- reducing the principal balance,
- extending the loan term,
- reducing penalties and fees,
- entering into a forbearance, and/or
- limiting the monthly payment to a proportion of your income.
One of the benefits of a mortgage modification is that it does not require a borrower to pay upfront fees in order to enter into it. To qualify for a mortgage modification, a borrower must meet certain criteria such as having a first-lien loan and providing full income documentation. In addition, a homeowner must not have already undergone a loan change under the program.
PHL will perform a free assessment of your existing financing to see what options are available for you. They can provide full guidance and support throughout the entire loan process. With a mortgage modification, a client will be able to repair their credit report by becoming current and eliminating their delinquency. A borrower can have peace of mind knowing that they will be able to save their home.
The modify mortgage process can often be lengthy and requires a loan professional that thoroughly understands industry guidelines and requirements. PHL will handle every aspect of the loan process for you, from correspondences to phone calls. They will provide you with an update on your file on a regular basis and can even visit your home for an evening or weekend appointment. PHL is a local lender that provides a personal touch, which makes a mortgage modification more pleasant.
Choosing the right company is important. If you need to begin an application for modify mortgage, then you should contact PHL to get more information.
