Rate Modification

This year several thousand rate modifications have already been approved. It is increasingly difficult and expensive to refinance into a loan with a low fixed rate, especially if you have less than perfect credit.

Each modification must be carefully packaged as it is going to go under intensive examination. It is crucial that all of the information you provide us with is accurate, so that it will be a quick and easy process for the bank to approve it.

Some of the things that you think would be to your disadvantage are actually to your advantage. For example, homeowners usually think that low monthly income is a deterrent for a rate modification. Low monthly income is one of the best ways to qualify for a rate modification.

The less money you make monthly, the more likely you are to default on a loan with a high interest rate. The key is to have enough monthly income to support the modified payment. Our attorneys are experts in calculating the lowest possible interest rate that you can qualify for, and will negotiate on your behalf so that you will get it.