Are you a candidate for  a loan modification? 

Are you currently behind in your mortgage payment? Has your mortgage payment increased or will it soon be increased?  Has a notice of default been filed on your home? Are you facing a personal hardship?  If you answered yes to any of these questions, you may qualify for a mortgage modification. 

I am not a lender and do not have any experience with mortgage modifications, but I have worked with Babak with Charter Pacific Lending Corp. for fifteen years and have always found him to be honest in our dealings.  I recently received this email from him:

“If you know people who can no longer afford their mortgage payment, are upside down, their payment is about to skyrocket and their family is in danger of losing their home I want to hear from them. This is not a solicitation for refinance. I can help many of these home owners even if they have no job, bad credit, no equity, and no assets.

Many homeowners don’t realize that if they are caught in a loan that has, or is about to reset to a higher payment, and they do not qualify for a refinance, there are options available.

As many of you know I have been a mortgage advisor for the past twenty two years. During my long career as a mortgage originator I have always stayed away from subprime loans and risky adjustable rate mortgages.  Therefore I am passionate about jumping in and helping those who have been victims of such loans.  My team and I have the knowledge and track record to negotiate with each borrower’s current lender and negotiate a much better term to help them get back on track. A “Mortgage Modification”  can permanently lower the home owner’s interest rate, lower their  mortgage payment, forgive past due payments or allow them to skip a few payments. There is no loan qualification for a modification. Therefore, it is not necessary to have good credit , equity, income or assets. In fact, what is necessary to show is “ True Hardship”.

Here are a few examples of possible candidates for loan modification:

-Home owners currently behind in their payment
-Adjustable rate loans that have reset or will reset within the next two months
-Currently in foreclosure
-Fixed rate or adjustable rate loans that are current but the home owner is facing a true hardship (such as divorce, loss of job, illness, damage to property, medical bills, etc)

Responsible home owners who are facing real hardships deserve a second chance and I want to help them. I know if I can help them save their home they will become my clients for life and they will never be victims of predatory lending.”

You may contact Babak @ (800) 322-1217 ext. 103, or email him at babak@chartpac.com. Homeowner's in trouble might also try contacting the Homeownership Preservation Foundation (888) 995-Hope.