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Mortgage Foreclosure

What is Mortgage Foreclosure?

Mortgage Foreclosure is the legal and professional proceeding in which a lender obtains a court order granting the lender permission to terminate a loan and repossess a property

. Commonly, foreclosure is brought about because of a borrower’s failure to make mortgage payments. As a result, the lender can repossess and sell the property to pay off the mortgage. Foreclosure is a costly and painful process for both the borrower and the lender. So in 2008, the Senate introduced the Foreclosure Prevention Act of 2008 to save American’s hard-working families from foreclosure. The process is called Loan Modification and it is available to you now!

What is Loan Modification?

Loan modification is a process whereby a homeowner's mortgage is modified and both lender and homeowner are bound by the new terms

. The most common modifications are a lowering of the interest rate, reducing the principal balance, 'fixing' adjustable interest rates, increasing the loan term, forgiveness of payment defaults & fees, or any combination of these. Foreclosure-Shield.com’s Loan Modification specialists can help you determine the best modification option for your unique situation. Please fill out our contact information form so that we can begin the evaluation and help you fight foreclosure.
Recent articles Recent Articles
Loan Modification Can Work For You

It is a remarkable situation that we as a country find ourselves in today when family homes are being foreclosed on with a scope and scale never before seen. Clearly the current U.S. recession and worldwide economic crisis is much to blame for this scenario. One might think that there might be no glimmer of hope in sight, and that banks might act too quickly nowadays to foreclose on homes if the borrower begins to fall behind on their monthly mortgage payments. But such is not the case.

The fact is that most people facing the prospect of foreclosure can stop the process in its tracks and... (READ MORE)

Stop Foreclosure With A Loan Modification

There are many alternatives to foreclosure, but many people are unaware that they exist. If you are among the millions of homeowners struggling to pay their mortgage or if you are already in foreclosure, you need to know that you have an alternative. You could try to sell your home in a market where no one is buying, or you could attempt to get a refinance loan, but those options leave a slim chance for success. The best option is for you to take advantage of the qualified professionals that work in the mortgage loan modification industry and see how they can help you lower your payments or in... (READ MORE)
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