Your City Professional.
What is a traditional Loan Modification?
A Loan modification is a permanent change in one or more of the terms of a mortgagor's loan.

What is "Making Home Affordable" all bout?
The Making Home Affordable Program is part of the Obama Administration's broad, comprehensive strategy to get the economy and the
housing market back on track. The Making Home Affordable Program offers two different potential solutions for borrowers:
1. Refinancing mortgage loans, through the Home Affordable Refinance Program (HARP) and
2. Modifying mortgage loans, through the Home Affordable Modification Program (HAMP)

Do I have to be past due on my mortgage to apply for a loan modification?
No. Responsible borrowers who are struggling to remain current on their mortgage payments may be eligible if the are at risk of imminent
default.

How low can my interest rate be?
It depends on the type of Modification. Treasury is providing incentives to your servicer to write the interest down to as low as 2%, if
necessary to get a payment that you can afford. Each borrower's interest rate will only be reduced to a point sufficient to get the modified
payment equal 31% of the borrower's gross monthly income. Not all borrowers will need a rate reduction to 2% in order to achieve a
monthly mortgage payment that is affordable. There are other types if modifications your investor may consider (i.e. Extending your loan
term 40 years to lower your payment, principal reduction, principal forbearance, etc.)

How do I know if I am eligible for a loan modification under the Home Affordable Modification or a Traditional Loan
Modification and is it Guaranteed?
There are various factors that are taken into consideration (i.e Loss of Income, Medical illness, Financial Hardship, Mortgage Payment
Increase, Investor/ Servicer Guidelines, etc.) When considering a loan modification. A loan modification is NOT guaranteed, as it dependant
on various factors of your particular situation and are optional on the part of your Servicer/Investor guidelines.

How Do I get started?
Your lender is available to help you with this process and provide you with further information. Another number you can call that offers
free services in the homeowners Hope Hot line (888)995-HOPE. You may also contact on of our friendly staff members for a FREE
analysis and consultation; our services are available for a nominal fee. We can process your information to determine whether you may or
may not qualify for a loan modification.
Consult with one of
our Loan Specialist
We calculate, fill out
and review  loan
modification package.
Submit to your lender
the same day.
Loan Modifications: FAQ & Free Counseling