A modification to an existing loan made by a lender in response to a borrower's long-term inability to repay the loan. Loan modifications typically involve a reduction in the principal balance, interest rate or an extension of the length of the term of the loan. In some cases a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so is less than the cost of default or foreclosure.

A loan modification agreement is different from a forbearance agreement. A forbearance agreement provides short-term relief for borrowers who have temporary financial problems, while a loan modification agreement is a long-term solution for borrowers who will never be able to repay an existing loan.

Loan modification is a term very unfamiliar to homeowners but not for very long. What most people are coming to realize is that losing their house to foreclosure is becoming a real possibility. Home foreclosure in America today is at an all time high and is affecting many homeowners that never believed they could lose their home to foreclosure. Homeowners are feeling the crunch of higher interest rates and a slowing economy. A loan modification may be the only way for a homeowner to save the biggest investment of their life, their home. Negotiating with the bank for a modification of your home loan can be an overwhelming process for many homeowners. That is why retaining the services of an experienced law firm or real estate attorney rather than a loan modification company is of extreme importance.

The reality of today's market is one of steep drops in real estate values nationwide coupled with tighter credit requirements. The combination of the two makes a formidable opponent for someone facing an upcoming adjustment in their payments due to an adjustable rate mortgage (ARM). It's not a good idea to take on your lender alone, as they would prefer. Our program and team will assist you in bringing your mortgage lender to reasonable terms that make sense in today's volatile economy. We will assist you in fighting to save your home and get you a payment you can afford. No matter what the reason, the sad truth is that millions of people are in the same boat. People are struggling to make their mortgage payments and live worry free lives.

The first thought most people have is to refinance their high interest rate mortgage. During normal times this would be the correct answer, although it's always painful to pay the associated fees with doing the refinance. In today's market this formula doesn't work, between the drop in real estate value and the tightening of credit you cannot recreate your past deal. Our program to assist you in preparing everything nessisary to alter the terms of your mortgage to fit a workable solution between you and your lender so it's a win-win for all involved.

There is no more time to waste, now that you have a viable solution to your mortgage problem. Save your home and protect your family. Our program was created by actual bank negotiators for licensed real estate attorneys and loan modification companies. Why pay an attorney or loan mod company for the same exact program and achieve better results with us because your file will be review by Fannie Mae/ Freddie Mac trained negotiators with the experience and knowledge of exactly what the banks are looking for before you ever submit anything to your bank. You do not need an attorney to do a loan modification. Attorneys are only required when you need foreclosure defense. If you are in fear of losing your home we can help you. Save your mortgage and families life today. Make sure you contact American Liberty today and get started on restructuring your mortgage.