You can receive loan modification help at no cost by contacting Frameworks, a local, non-profit organization. As an Austin Realtor, I’m happy to find a company that is able to help homeowners remain in their homes, even if they are behind on payments or facing foreclosure. Call Frameworks at 512-385-1500.
Frameworks will work with any home owner on loan modication help. Higher income brackets and loan amounts over $729,000 are more difficult for loan modification help, but Frameworks is still willing to assist folks in these situations. Even if you no longer have income at all, Frameworks has found ways to delay the Austin foreclosure process to allow home owners to get back on their feet financially without losing their house.
For example, if you have no income due to a job loss, you may qualify for a forebearance agreement with your lender. During a period of forebearance, you may make reduced mortgage payments or even no mortgage payments. The lender would expect you to find a new job within that time period and then resume normal or modified payments. Frameworks helps make sure the lender does not foreclose on your house during that agreed-upon time period.
Frameworks has experience helping homeowners get a work-out on their loan and receive forgiveness for past due late fees. Loan modification help in the form of a lowered interest rate, loan term extension or combinations of these changes are the specialties of Frameworks. They have counselors who work on your behalf with your lender to get your payments reduced so that you can stay in the home.
You should consider loan modification help only if you DO NOT WANT TO SELL your house, and you know your financial situation can be improved quickly enough for you to get back on track. If your house will continue to be a financial burden, even with reduced payments, I would recommend selling. You may even have more equity in your home than you think. Visit Austin home seller options for more information. If you have already received an Austin foreclosure notice, and you want to sell fast, go to Austin foreclosures.
Many Austin area home owners have attempted on their own to get loan modifcation help from their lenders. Folks who have tried this on their own have experienced an extremely frustrating process often ending in a rejected loan modification from the lender. Home owners that HAVE been granted a loan modification often find that their payments go up even higher after the initial forebearance time period. I’ve also heard from home owners who didn’t need forebearance but only received a nominal monthly payment reduction, i.e. $100 less per month. That’s really no help. Frameworks has been able to help Austin home owners get a REAL loan modification. They know how to get these lenders to cooperate!
Best of all, Frameworks help is FREE for homeowners needing loan modification help. Frameworks receives government funding and private donations so that they can help those in need.
If you’ve experienced an unfortunate change in your household income and ability to pay your mortgage, Frameworks may be an answer to your prayers. Whether or not you are behind on payments, you can get loan modification help. Loan modification help could be the dawn of a new day for you!