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Follow on Google News | Sacramento A+ BBB Mortgage Loan Modification Help | No Upfront Fees | CaliforniaHomeStart is a trusted loan modification company based out of San Diego, California. HomeStart is licensed by both the BBB and the DRE to provide trusted and effective service to our clients.
By: HomeStart California now has the highest total number of foreclosures in the nation and ranks fourth for the highest foreclosure rate. There were more than 3,700 foreclosed homes in Sacramento County in January 2010, according to RealtyTrac. Fortunately, loan modifications are becoming more prevalent and regulated. HomeStart is accredited by the BBB and provides loan modification services to the many who qualify. What is a loan modification? A loan modification is a permanent change in one or more of the terms of your loan. The purpose of a loan modification is to allow the borrower to meet the new terms in order to prevent foreclosure. A loan modification is not a refinance; it is a renegotiation of the loan terms. In other words, a loan modification is a contractual agreement between the Lender and the Borrower to provide long term relief from unaffordable loan terms. Loan modifications can lower your interest rate, monthly mortgage payments, and the principle balance. Since the cost of foreclosure to the Lender is higher than new terms, lenders are open to loan modifications to prevent foreclosure. HomeStart is here to help you through this process. Why choose HomeStart? In addition to having an A+ grade from the BBB, HomeStart is licensed by the California Department of Real Estate (DRE). The DRE established certain policies for its members regarding the capability of performing home loan modifications. The DRE thoroughly assesses a firm before allowing it to become a member, which demonstrates the legitimacy of HomeStart. Here is an example of a recent loan modification performed by HomeStart: Property in California Total monthly savings of $1,132.38/month * Primary Residence: Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of $2,445.30. * Modified to: Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments. For more information please visit http://www.YourHomestart.com # # # About HomeStart: HomeStart is an A+ BBB accredited company based out of San Diego, California that offers loan modification services nationwide. HomeStart is also licensed by the Department of Real Estate to provide turnkey loan modification services. End
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