Welcome to iLoanMods.com

Welcome to iLoanMods.com where you can find valuable free information and everything that you need to know about getting a loan modification. You may have heard in the news about the $700 billion bailout bill that was recently passed, but you may not know how it can affect you. You may be able to save thousands of dollars per month.

Take some time to read the information below and fill out our application if you think you may qualify for a home loan modification, it may be one of the best decisions you ever make!

What You Need to Know!

The basic idea behind this plan is that it is cheaper for the banks to modify a loan than to go through the costly and lengthy process of foreclosure. With the current status of the economy in this country, many people are at risk of losing their homes. The plan is designed to help both the banks and the borrowers streamline the unavoidable consequences of a poor economy and the resulting mortgagees who can no longer afford their payments. YOUR BANK does not want to foreclose on your property.

The services for a loan modification will cost money, but it will be well worth it. If you do qualify, you will either get your loan modified or your money back guaranteed. Thus we believe this is not only the fairest but also the most competitive program among anyone in the industry. So you can be assured that you are not paying for anything that you don't absolutely need. The process can take anywhere from three weeks to three months, but once you are qualified you are not responsible for any of your payments while the process is taking place.

Also, many people cannot afford a down payment, but iLoanMods.com is one of the few companies that has financing options available without a credit check. However, keep in mindthe sooner we get the down payment the sooner we can help you modify your loan. We are here to help you get back on your feet. Inquire about our free consultation service via our form if you are interested.

What the Lenders Need to Know

Obviously there has to be rules and regulations for such a plan. The government does want to help people in need, however they cannot afford to give everybody a below market rate. Lenders are willing to negotiate a loan modification if mortgagees are facing financial hardships and cannot obtain other financing alternatives. Here are the key questions they will ask:

1) Can you establish a hardship?

You must show your lender why it would be in their best interest to workout the current terms of your loan. There are several new loan modification programs that can be utilized to address short-term hardships like layoffs, job loss or temporary income reductions, and long-term hardships like death of a spouse, divorce, disability or severe medical situations. The banks will review each case separately so be sure to see if you qualify today!

2) Have you missed a payment on your current mortgage or are you in danger of doing so?

By no means are we advising that you purposely miss a mortgage payment, but if it is evident that this will be the case then we recommend looking into modifying your loan immediately. Contrary to a refinance, a loan modification is not based on your credit or equity in the home. However, this program caters to troubled borrowers who can prove their financial difficulties and ability to afford their new payment. A thorough investigation of your monthly income and bills will be needed to determine what your new monthly payment may be and validate your hardship.

That's It!

Yes that is it. No credit check, no appraisal fees, no worries! We empathize with your current situation and understand that you may be down on your luck. However, we have seen many borrowers significantly reduce their monthly mortgage payment and save themselves from having to foreclose on their home. Our best advice is to stay positive and try to get yourself back on track as soon as possible. You have nothing to lose and much to gain, so contact one of our loan modification specialists today!

Contact Us Today!