Struggling homeowners now have a chance at getting their mortgage modified by their current lender. A Mortgage Modification (or "Loan Mod") is simply a modification to an existing loan made by the current lender in response to a borrower's long-term inability to repay the loan. Loan modifications typically involve a reduction in the interest rate on the loan, an extension of the length of the term on the loan, a different type of loan or any combination of the three.

Some consumers confuse a loan modification with a forbearance agreement. These are two separate types of agreements. A loan modification is a long term permanent solution for borrowers that show an inability to repay the existing loan, whereas, a forbearance agreement is short term relief for those suffering a temporary financial problem.

There are five top reasons that a loan modification will work for you. If any of these apply to your current situation than you are a definite candidate for a mortgage modification. The top five reasons are:

1. Inability to refinance due to loss of equity, owing more than your home is worth

2. Inability to refinance due to lack of positive credit or late mortgage payments

3. Rate currently adjusting or going to adjust

4. Suffered a Financial hardship (job loss, pay reduction, medical bills, divorce, etc)

5. Currently Facing Foreclosure

If any of the above reasons apply to your current situation then a loan modification is in your best interest. Foreclosure Shield is able to navigate through the intricate loan modification process and get your loan modified in the shortest amount of time possible. And that is exactly what is needed when the clock is ticking.