Loan Modification

Many Tampa Bay homeowners are struggling to make their monthly mortgage payments. If you have experienced an increase in your interest rate or a decline of your income, then your lender may agree to lower payments through a mortgage modification.

Lenders realize that the average foreclosure can can cost up to 35% of the value of a property, and they may be reluctant to own yet another property. Lenders offer their own modification programs and they also participate in government sponsored loan modification programs.

Government programs such as the Home Affordable Modification Program, or HAMP, have reduced mortgage payments for millions of homeowners. According to the Government Accountability Office, only a fraction of the $50 billion set aside for mortgage modification programs has been spent. Find out if you are eligible for HAMP or HOPE NOW today.

Other useful links include: Fannie Mae Loan Lookup and the Freddie Mac Loan Lookup.

As Certified Distressed Property Experts, Annette, Doug and Dale Bohannon have been trained help homeowners understand all the options. Contact the Bohannons at Coldwell Banker Residential Real Estate in Tampa, Florida for a confidential consultation.