Job loss or mortgage rate adjusted higher? You are not alone. Over 2 Million Americans filed for home foreclosure in 2008. Your solution will depend on your financial status, the mortgage's default status, the type of loan you have and the applicable foreclosure laws in your state.

Q: What is a Mortgage Modification?

A: A Loan Modification is a change to an existing loan to a more affordable level by a lender in response to a borrower's long-term inability to repay it. Loan modifications typically involve a reduction in the principal balance, interest rate or an extension of the length of the term of the loan, or a combination of the three. You may qualify if you have recovered from a hardship and can afford the new payment amount. Most lenders can work with home owners, even if they have poor credit and have a foreclosure date since they do not want your home. Speak with a attorney to go over your options by submitting the form here.

Q: If I’ve missed too many payments, can I still get help?

A: There's always time to get help. We can't work miracles, but we can always give expert advice for any situation. That being said, the help we're able to offer is far more constrained if you're eight payments behind than if you're one or two behind. The sooner we can get involved, the better chance you have of avoiding foreclosure.

Q: Is it possible to stay in my house after foreclosure proceedings begin?

A: Contrary to what you might think, there are still options available to you after the foreclosure process has started. The sooner you fill out the form below, the more tools we'll have to help you fix your situation.

Q: Do I need to be behind on my mortgage payments to be eligible for a Home Loan Modification?

A: No. Responsible borrowers who are struggling to remain current on their mortgage payments are eligible if they are at risk of imminent default, for example, because their mortgage payment has recently increased to a level that is not affordable. If you have had or anticipate a significant increase in your mortgage payment or you have had a significant reduction in income or have experienced some other hardship that makes you unable to pay your mortgage, contact your servicer. You will be required to document your income and expenses and provide evidence of the hardship or change in your circumstances.

Q: I have a second mortgage. Am I still eligible?

A: Yes, but only the first mortgage is eligible for a modification.

Q: How do I know if my servicer is participating? Are all servicers required to participate?

Servicer participation in the program is voluntary. However, the government is offering substantial incentives to servicers and investors, and it is expected that most major servicers will participate. Participating servicers will sign a contract with Treasury’s financial agent, through which they agree to review every potentially eligible borrower who calls or writes asking to be considered for the program.

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National Mortgage Help Center
PO Box 85073
Richmond, VA 23285

The National Mortgage Help Center (NMHC) educates the general public and refers your contact information, at no cost to you, to evaluate qualifications for a mortgage payment reduction. NMHC is not a non-profit organization and not affiliated or approved with any government program. By applying with NMHC does not guarantee a reduced monthly mortgage payment, and the lender may not approve to change your loan. This Website is not one of several lead-generation Websites that all generate quotes for the same provider.