Loss Mitigation Services
You will qualify for a Loan Modificiation/Loss Mitigation Services if you are experiencing any one of the following:
 Inability to refinance due to high Loan To Value (LTV) or loss of equity
Inability to refinance due to lack of positive credit or late mortgage payments
Rate currently adjusting or going to adjust
Financial hardship (job loss, pay reduction, medical bills, divorce, etc)
Facing Foreclosure
Benefits of a Loan Modification:
Every homeowner’s situation differs and each lender has their own policies regarding the use of government programs for loan modifications. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common mistakes that many homeowners encounter while trying to work things out directly with their lender. After performing an extensive analysis of your loan, your current situation, and your lender’s loss mitigation policies, our professional Attorneys will find both the legal and moral leverage to negotiate with your lender the best sustainable agreement for your loan modificaiton request.
Typically, individuals who have tried to do a loan modification by themselves have experienced a hard time getting through to the bank, or the bank took very long to process their request. If they do get through, typically the bank's negotiators end up getting the best deal for the bank.
LTV Financial Group is a professional loan modification company that is backed by attoneys that can put legal pressure on the lender to modify the loan quickly. Our Attorneys can do so by looking for violations in regulations and procedures enacted by the federal government,
including Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA) , to put legal pressure to get the job done.
So, if you are looking for the fastest and best loan modification scenario, with LTV Financial Group, you will get:
A Free Loan and Property Evaluation to Determine if You Qualify
Experienced Forensic Audit Specialists that Will Analyze and Create Your Application
A Vast Lender Network that Will Speed Up Priority Review of Your Application
Expert Attorney Negotiators that Will Analyze the Legality of Your Loan and Secure the Best Modification For You
A 100% Money Back Peace of Mind Guarantee
Who is LTV's Loss Mitigation Attorney?
Clients Facing Foreclosure?
If you are facing foreclosure, LTV Financial Group will is best qualified to handle your situation by purusing one or more of our loss mitigation options listed below.
LTV Loss Mitigation Services
1. LOAN MODIFICATION
A true loan modification will either change the interest rate, the length of the loan, or the principle balance of the loan, or a little of all three. Although banks do not want to foreclose on individuals, it does happen regularly and with the foreclosure rate in some areas as high as 3%, banks are inundated with requests to modify loans.
A loan modification is different than a forebearance, which is a temporary repayment plan the bank offers individuals. This will usually include a 6 month period to "catch up" with the payments, or a loan that is tacked to the end of the loan period.
2. SPECIAL FORBEARANCE
If you have incurred a short term financial hardship and your loan is 90 days to 365 days past due, LTV Financial will also consider submitting a request for a special forbearance. A special forbearance is designed to provide you with more relief than is possible with a regular repayment plan. Typical approval can result in spreading the repayment over 12 to 18 months. 3. REPAYMENT PLAN
If you have incurred a short term financial hardship and your loan is two or more months past due, LTV Financial will also consider submitting a request for a payment plan to your lender for approval. Only after reviewing your financial situation will this option be considered. All clients must be able to show that they can afford this plan in order to be eligible.
4. PARTIAL CLAIM
LTV Financial may assist in requesting a partial claim if you qualify. You may be eligible if your loan is 120 to 365 days past due. Under the Partial Claim Option, the lender will advance funds on behalf of the homeowner in an amout neccessary to reinstate a delinquent loan. The partial claim note will require you to start making payments when you pay off the first mortgage. There is no interest. The partial claim can be for no more than 12 months of past due payments.
5. PRE-FORECLOSURE SALE PROGRAM
If you can't sell the property for the full amount of the loan, your lender may accept less than the amount owed. Financial help may also be available to pay other lien holders and/or help towards some moving costs. You may qualify if:
- The loan is at least 2 months delinquent
- You (or your real estate professional) can sell the house within 3 to 5 months
- A new appraisal (obtained by your lender) shows that the value of your home meets guidelines
If you have suffered a long term financial hardship and are unable to maintain your loan or if you need to sell the property to avoid a default loss on the property, it is possible that the lender may be able to accommodate you with a short payoff. A qualified buyer is required. If this is an option you wish to pursue, you must inform the loss mitigation specialist assisting you immediately. There may be tax ramifications associated with any short payoff or foreclosure; therefore, we recommend you contact your tax advisor for details. Some states permit lenders to seek a deficiency judgment for the amount the payoff was discounted. See your state’s foreclosure law for more information. Check with an attorney for advice on your personal situation.
6. DEED-IN-LIEU OF FORECLOSURE
As a last resort, you "give back" your property and the debt is forgiven. This will not save your house, but it is less damaging to your credit rating. This option might sound like the easiest way out, but it has limitations: You usually have to try to sell the home for its fair market value for at least 90 days before the lender will consider this option. This option may not be available if you have other liens, such as other creditor judgments, second mortgages, and IRS or state tax liens.
Please contact us to discuss your specific situation. We'll help you get answers fast.
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