Thursday, October 16, 2008
There are attorney groups available in this market that are doing very good work in loan modification. This may be the best solution for those who want to refinance but cannot due to low FICO scores or reduced equity in their homes. We have seen results such as 7% fixed rate 30 year loan modified to 4.0% or lower for the life of the loan! Some results are better, some are not as great, but a good percentage reduce rates and payments to make the borrower have an easier payment. Principle reductions are extremely rare. So if you want to review or improve your situation, let us know, we can send you the right way.