What is a loan modification?
Loan modification is a permanent change in one or more of the terms of your mortgage. This modification typically results in a lower monthly payment, avoiding foreclosure and, more importantly, giving you the opportunity to continue staying in your home. A loan modification is needed when you are unable to continue making mortgage payments, but still have a job and a verifiable income. Loan modification is not the same as debt consolidation, refinancing, or even forebearances. Instead, a loan modification is a long-term solution for rising interest rates, or other hardships that make it difficult to make regular mortgage payments. Loan modifications stop foreclosure proceedings and reinstate the loans as they are being modified, helping you restore your credit and move on with your life.

What is a loan modification?

Loan modification is a permanent change in one or more of the terms of your mortgage. This modification typically results in a lower monthly payment, avoiding foreclosure and, more importantly, giving you the opportunity to continue staying in your home.

A loan modification is needed when you are unable to continue making mortgage payments, but still have a job and a verifiable income.

Loan modification is not the same as debt consolidation, refinancing, or even forebearances. Instead, a loan modification is a long-term solution for rising interest rates, or other hardships that make it difficult to make regular mortgage payments.

Loan modifications stop foreclosure proceedings and reinstate the loans as they are being modified, helping you restore your credit and move on with your life.

Why would lenders want to work with you?

Surprisingly, banks want to avoid foreclosures. A bank loses approximately $58,000 for each foreclosure. Even though banks routinely foreclose on properties and sell homes to other buyers, it's not the best option for the bank. Lower home values, costs in selling foreclosed home make it challenging for banks to foreclose on a house.

A modified loan protects the credit rating of a borrower, and also helps lenders with fewer defaulting loans in their portfolios. This, of course, makes a good impression for the bank as they work with potential investors.

How do I know if I can take advantage of a loan modification program?

You must be currently employed or have another source of a stable and predictable verifiable monthly income. The home that you are seeking to obtain a loan modification must be your primary residence.

Contact Century Loan Mod today at 1-877-399-MODS to discuss your unique situation.

How does the process work?

The first step is to contact Century Loan Mod. One of our experienced loan modification agents will listen to your unique circumstances and provide you feedback whether a loan modification is right for you.

When you decide to proceed, you'll be assigned your own personal loan modification agent who will be your point of contact through the entire process. Your loan modification agent will start by collecting all the necessary documents to start the process. This will include information on your mortgage, paystubs, tax forms and bank statements.

You loan modification agent will then work with your lender to negotiate the right loan modification program for your unique needs.

The whole process can be as short as 2 weeks or can take up to 8 weeks depending on the lender. Through the process, your Century Loan Mod agent will be your guide through the process. The agent will keep you updated on the status. You are always welcome to contact the agent at any time through the process.

How much does it cost?

These are hard times for you and your family. We believe that a loan modification can help improve your financial well-being and give you the ability to regain your financial freedom. For that reason, our loan modification process is meant to be efficient and affordable for you. While others charge $2000, or some charge over $4000, we don't think that it makes sense for you to pay that much during your tough times. Our initial consultation is always free. You can call us to discuss your unique situation and we'll recommend whether a loan modification is right for you.

Why pay more than what's required. We want to help you rebuild your financial future and don't believe you should pay more than what's required to get started. Contact us today to learn more.


What lenders do you work with?
We work with all leading mortgage lenders throughout the US. Contact us today to learn about our personal loan modification process and how a loan modification can help you.