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Refinance or Modify?

Loan rates have dropped, so lots of people hope to refinance, but many people can’t qualify, because they have lower income or other problems.
You can actually get much better terms with a Loan Modification forced on the Lender, especially after an audit of the loan documents to find which laws the lender broke, which is known to do well.

Modify Your Loan

If you qualify with a hardship (e.g. lower income, higher expenses, divorce, separation, death in the family, emergencies) but you still have income, you might get your loan modified for lower interest and lower payments, a lower balance, maybe even from an adjustable ARM to a fixed loan. Often, a 2nd Mortgage can be dissolved or settled for 10% or less of the original balance. Loan Repair Now .com is the best Loan Modification Company we’ve found. They will prequalify you properly, to make sure you fit the parameters needed. Their experts have a 97% success rate, because they first make sure you will survive after the Loan Mod, and then they force the lender to accept the Loan Mod Proposal after they do a Forensic Loan Audit to discover laws the Lender broke in the Loan Documents (85% of the time). They are attorney-assisted, and can even help with foreclosures (up to 30 days before sale).


If you get a Notice of Default, you may only have 110 days before it’s sold. You must act quick before the sale or court date.

Beat Foreclosure Fast .com explains your options in Foreclosure. Find out if you have time to sell, refinance, modify, or have to go to bankruptcy.

Normal Refinance

If you can’t qualify for a Loan Modification, which can get you better rates and features than a Refinance, you can refinance, if you qualify.
There are many different refinance benefits: you can lower your monthly payments, consolidate your debts, among other things.

One great refinancing benefit that you may get is to lower your monthly payments for the loans you already owe. When you refinance your home, you may get lower interest rates and therefore lower monthly payments. the effect of this is that every month you send in a mortgage payment, that payment will pay the interest and a pay off a part of the principal amount of the loan that you took out. By refinancing, you may be able to reduce the monthly payments that you make for both interest and principle.

Debt consolidation or debt settlement is one major refinance benefit that you can get. This refinancing benefit that can be especially useful for those with high interest debts. Credit card debts are one high interest debt that settlement or refinancing can help pay off in many cases. The equity that you have can be used as collateral to help you get a lower interest loan, which is another major refinancing benefit. Of course, you may not get an immediate increase in savings through refinancing.

Refinancing for debt consolidation can be useful in that it will makes it easier to pay off all of your bills. It’s normally difficult to take care of all of your bills each month, so debt consolidation can simplify the payments you have to make.

A final refinance benefit is to use the equity that you have built up to cash out the equity for various purposes, such as financing your education needs or improving your home. Sometimes a Home Equity Line of Credit (HELOC) can be taken out, where you don’t get all the money at once, but keep it available for future uses. because you only pay interest on what you actually borrow, it’s a great way to tap the equity in your home for future potential emergencies, without paying interest unless you need it.