I wanted to take a moment to introduce my new company, Mod Central (many of your know me as Beth1210)

We specialize in Loan modification, short sales and other real estate transactions that need to by handled by an attorney. Our goal is find an alternative to foreclosure and the loss of your home.

We have an in house legal team with over 25 years experience in real estate law and well as former mortgage specialists.

What is a Loan Modification?
A Loan mod is the renegotiation of the terms of you current mortgage- this can include:
1- Lowering your interest rate
2- Changing the length of the loan
3- Bringing the loan current by putting all late/behind payments back on the loan

How do you know if you qualify?
Every situation is different, and every loan mod is different, the best way to know if you qualify for a loan mod is to speak with a professional who is experienced in the industry. You DO NOT have to be late to qualify.

Here is a great example of what a loan modification can do…..
Two months ago I called a woman in NJ; we will call her Jane Smith. Mrs. Smith was 2 months behind on her mortgage and not sure where to turn. She had called her bank and they told her they didn’t do loan modifications. Mrs. Smith was nervous and scared, she was a good customer for 7 years- never late until recently and she had adjustable rate mortgage set to readjust on 1/1/09. Mrs. Smith and her husband both worked for the same company, 2 months earlier the company cut hours and now the Smiths lost HALF their income.

I assured Mrs. Smith that we would be able to help her, she got me all the needed documentation and I started researching her bank, which actually had a few loan modification programs available- despite what they told Mrs. Smith. The Attorney sent the information over to the bank and 3 weeks later I received a call that Smiths qualified for a modification.

Instead of the Smiths rate increasing on 1/1/09 to 9.375%, we got the rate decreased to 5%, saving the Smiths $600 a month (on a $200K Loan). Also the Smiths were now current on their mortgage – with all 3 payments they owed now put back on to the loan. The first payment was not due for 4 weeks- so this gave the Smiths a chance to get everything in order. I called Mrs. Smith to let her know the good news and she couldn’t thank me enough- we saved their home.


Mod Central Contact Info