Clear Image Financial Group - Mortgage Modification Made Simple

THE CIFG ATTORNEY-BASED LOAN MODIFICATION PROGRAM

Our attorney-based loan modification program is for borrowers who fall into one or more of the following categories:

You are struggling to keep up with your mortgage payments;

You are behind on your mortgage payments;

You have little or no equity in your home;

You are upside down which means you owe more than your house is worth;

You can’t qualify to refinance your existing mortgage;

You have an adjustable rate mortgage with payments that are or will be too high;

You face foreclosure unless you do something to change your circumstances;

Our attorney-based loan modification process focuses on negotiating changes in the terms of the loan contract covering your mortgage on your home so that your monthly payments are reduced to a manageable level. The financial terms that our team of legal and financial experts can negotiate on your behalf depend on your circumstances as a property owner and may consist of any of the following.

(a) Reducing your monthly payments;

(b) Reducing the total loan amount that you presently owe;

(c) Reducing the interest rate you pay for your loan, freezing the current interest rate that you pay to prevent an increase if you have an adjustable rate; or

(d) A combination of these options.

Remember, a loan modification will only approved by your lender if we can demonstrate that you can no longer make your monthly mortgage payments based on your financial hardship and individual circumstances. However, our negotiators must also be able to demonstrate that if our loan modification proposal that we present on your behalf is approved, you would be able to continue to make the reduced payments in the future. Lenders look at each loan modification request on a case-by-case basis and evaluate the supporting documentation that we submit to your lender(s). This is where Clear Image Financial Group excels by meeting your financial burden of proof. We are experts at effectively presenting your financial hardship and your related financial information to lenders in a highly organized way. Our team of legal and mortgage professionals have decades of experience and know exactly how to argue that our loan modification request on your behalf is justified based on your unique financial circumstances and that it should be approved. We demonstrate to your lender that our loan modification proposal will be less costly to your lender than forcing you into foreclosure which involves your lender hiring attorneys to take possession of your property and then disposing of it through a foreclosure sale after you are removed from the property.

Unfortunately, not every homeowner will qualify to benefit from a loan modification and the burden of proof for approving a loan modification is placed on you, the borrower. You must have a legitimate “financial hardship” such as a significant change in your circumstances that prevents you from being able to continue to pay off your existing loan under the current terms so as to justify approval of your loan modification request.

What types of "financial hardships" may qualify you for a loan modification?

Illness;

Injury/Physical Disability;

Death of a Borrower, a Spouse or a Co-Borrower;

Divorce or Separation from a Spouse;

Medical Bills;

Job Loss;

A Reduction of Income;

A Failed Business;

Relocation Due to Employment;

Incarceration;

Military Duty;

Damage to Your Property (Due to a natural disaster or other unforeseen events);

A Reset/Increase of Monthly Payments Due to an Adjustable Rate Mortgage;

Other Financial Hardships That Prevent You From Paying Your Existing Mortgage.

What types of "financial hardships" may qualify you for a loan modification?

Illness;

Injury/Physical Disability;

Death of a Borrower, a Spouse or a Co-Borrower;

Divorce or Separation from a Spouse;

Medical Bills;

Job Loss;

A Reduction of Income;

A Failed Business;

Relocation Due to Employment;

Incarceration;

Military Duty;

Damage to Your Property (Due to a natural disaster or other unforeseen events);

A Reset/Increase of Monthly Payments Due to an Adjustable Rate Mortgage;

Other Financial Hardships That Prevent You From Paying Your Existing Mortgage.

What information do banks need to receive and review in order to decide that a homeowner may qualify for a loan modification?

W2s;

Pay Stubs;

Social Security Statements;

Disability Statements;

Unemployment Benefit Statements;

Retirement Benefit Statements;

Public Assistance Receipts;

Medical Bills;

Death Certificate;

Divorce petition or decree;

Estimates and other proof that your home was damaged due to a natural disaster;

Tax returns or a year-to-date profit and loss statement if you are self-employed;

Adjustable rate mortgage with terms that show a reset to unmanageable levels;

A list of your reasonable household expenses.

Each lender is different and has established its own requirements for considering and approving a loan modification request. Different lenders may request different information and documentation from you. Therefore, while we work diligently on your behalf, we may need to obtain additional information or documentation from you or require that you complete certain forms throughout the loan modification process in order to maximize your chances of success! Just remember that our primary goal is to empower you to remain in your home and we work hard to achieve that result as quickly and as efficiently as possible.