Los Angeles A+ BBB Mortgage Loan Modification Help | Whittier, Pomona, Van Nuys

Jan. 21, 2010 - PRLog -- For A+ BBB Los Angeles Mortgage Loan Modification Services go to www.YourHomestart.com

California currently accounts for over a quarter of the nation’s foreclosures, reporting over 630,000 foreclosure filings in 2009. This is an increase of over 20% from last year! Los Angeles County has by far the most foreclosures in California, listing almost 70,000 foreclosure filings in the third quarter of 2009, according to Realty Trac Inc. Whittier, Pomona, and Van Nuys are just a few of the cities in Los Angeles County to struggle with high numbers of foreclosures. If you are one of the many people to be affected by the housing crisis, don’t hesitate to contact HomeStart to find out if you qualify for a loan modification.

A loan modification is a change in one or more of the terms in your loan. This could mean a lower interest rate, lower monthly mortgage payments, and a lower principal balance.  The purpose is to allow the borrower to meet the new terms of the loan, in hopes of avoiding foreclosure. With the current declining home prices and competitive real estate environment it’s become even more difficult to re-sell your home after foreclosure. Lenders would prefer any solution where they can receive some payment. Therefore, the cost of foreclosure is actually more expensive to the lender than the cost of new loan modification terms, making a loan modification beneficial for everyone involved.

The time to act is now, however, do not rush and make a decision based on pricing from any mortgage loan modification company. Remember that a turnkey, loan modification involves seven critical phases. The process can generally take up to three months, even with a team of experienced loan modification specialists working diligently, which is why the time to get started is now.

HomeStart offers nationwide residential, investment and commercial property loan modifications, and can also provide foreclosure prevention information and pre-foreclosure consultation. HomeStart is the only business in California with an A+ rating from the Better Business Bureau in both loan modification and real estate loan modification. While the California DRE reported approximately 495,000 registered Real Estate and Mortgage Brokers in California in August 2009, only a mere 300 were licensed to perform mortgage loan modifications. The A+ score that HomeStart received represents the BBB’s degree of confidence that the business is operating in a trustworthy manner and will provide excellent contracted services, while also providing a high degree of customer service. If you are unsure if you qualify for a loan modification or simply would like more information about the loan modification process, don’t hesitate to visit our website or call HomeStart for a free consultation.

Here is one recent example of a loan modification performed by HomeStart:

Property in San Diego, CA
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 www.YourHomestart.com

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HomeStart has been honored with an A+ Rating from the BBB for providing trusted and effective loan modification services to our clients. We are here to help; start new, not over.