About Mortgage Help Hotline
Mortgage Help Hotline is a lifeline to struggling homeowners looking for assistance with their existing mortgage. Our mission is to prevent foreclosure while providing solutions to help homeowners get back on track.
Whatever your situation may be; good credit or bad credit, current or late on your mortgage, equity or no equity in the property, our mortgage help counselors are anxious to review the options available to you.
Mortgage Help Hotline was formed from the association of a group of financial and legal professionals to help homeowners in today’s economic environment. Our nation is experiencing record levels of mortgage default and other deficiencies as borrowers are struggling to pay their bills. Mortgage Help Hotline wants to minimize the number of foreclosures and is focused on educating homeowners about alternatives to foreclosure.
Millions of homeowners in the country have experienced a hardship and are now paying more on their mortgage than what they could previously afford. Additionally, home values across the nation have fallen to the point where 27% of homeowners in the United States are currently underwater on their mortgage.
We are worried too many struggling homeowners are making important decisions regarding their home without knowing all of the options available to them. Mortgage Help Hotline strives to educate homeowners so they can make important decisions about their homes rather than allowing the bank to make those decisions for them.
Mortgage Help Process
Mortgage Help Hotline knows that everyone’s situation is unique and different. If you are looking for help with your mortgage the last thing you need is someone pedaling you a single product or service. Our mortgage help counselors take the time to understand how you have arrived at your current state of affairs to better tailor a solution to your needs and goals:
1. Analyze Current Situation
Mortgage Help Hotline strives to provide homeowners with multiple options of help to better their current situation. During your complimentary consultation we will evaluate your current state of affairs and hardships you are facing. The assistance and options we will outline for you will vary based upon the information gathered from this analysis.
2. Review Needs and Goals
Mortgage Help Hotline does not believe in a “one size fits all” when it comes to your home. As a homeowner, you have numerous options of relief available to you. Our mortgage help counselors will review your needs and goals and where you want to be in the future so so can help you get there.
3. Customize a Solution
If you need help and are looking for answers, this is where you will find them. A mortgage help counselor can outline multiple options for your situation and let you choose which you feel would be best. If there are any obstacles or hurdles preventing you from obtaining mortgage relief we can show you how to overcome them.
4. Execute the Plan
After determining the appropriate direction of mortgage help, we are here to help you take action. A mortgage help counselor can facilitate the execution of your customized plan to provide you the relief you desire.
Mortgage Help Hotline offers a complimentary consultation.
Why a Loan Modification?
Loan modification is a relatively new term and a highly misunderstood option for many homeowners. Consider a few points on the benefits of a loan modification:
- Interest rates on loan modifications can be lower than those available through a traditional refinance option.
- Loan modifications have the potential to reduce the principal balance owed on your existing mortgage.
- Loan modifications can STOP FORECLOSURE and can keep you in your home with a more affordable payment!
- If you are behind on any mortgage payments, a loan modification can correct any deficient balances and bring you current on the loan.
- Homeowners are eligible for a loan modification whether they have good credit or bad credit.
- If you have an adjustable rate mortgage, a loan modification may be able to provide you a low fixed interest rate.
- A loan modification may be available to borrowers whether they have equity in the property or are upside-down on their home.
- Loan modifications permanently alter your existing mortgage contract.
Call today and speak with one of our mortgage help counselors to determine whether a loan modification may be beneficial for you.
Mortgage Help FAQ
- Do you have to be behind to qualify for assistance?
No! Whether you are current or behind on your mortgage, have good credit or bad credit, equity or no equity in your property, we have programs to provide you the help you need with your existing mortgage payments.
- Are there any programs providing relief that do not require a loan modification?
Absolutely! Loan modifications have some great benefits in today’s marketplace but represent only one of many programs that are available to current homeowners. Loan modifications are not appropriate for all situations and generally are ideal after all other options have been exhausted.
- What is a loan modification?
A loan modification is a mutual agreement between a homeowner and the lender that alters the terms of an existing mortgage contract. Loan modifications can permanently reduce the interest rate, reduce the principal balance owed, extend the term of the loan, or a combination of these. If a homeowner is behind on their mortgage, a loan modification can additionally bring the borrower current on the loan and stop any foreclosure proceedings.
- How do I know if I qualify?
Most homeowners are eligible for multiple programs and just aren’t aware of their options. Mortgage Help Hotline focuses on educating borrowers so they can better choose which assistance program would best serve their needs. Our mortgage help counselors offer a free consultation and let you know what you qualify for.
- How do I get a principal reduction on my mortgage?
Principal reductions are not easily obtained but can be an option depending upon your situation. Principal reductions generally will require the assistance of an attorney through a loan modification or litigation.
- How much can I save on my current mortgage?
Savings are relative to the principal amount a homeowner owes on the loan and the current interest rate. Some programs can save homeowners up to 50% off their existing mortgage payment and lower the interest rate to as low as 2%.
- What if I don’t have equity or am upside-down on my home?
There are a couple refinance programs that can help if you are upside-down on your home but more than likely you will be a great candidate for a loan modification if you don’t have any equity in the property.
- What are the costs associated with your program?
Mortgage Help Hotline offers a complimentary consultation. Depending upon what programs a homeowner may qualify for and decide to participate in may or may not require engaging the services of a mortgage professional or attorney