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Terrylynn Fisher
Sherry Hutchens
Dudum Real Estate's
Short Sale Team





HAFA Certified

Certified Distressed Property Experts

Loan Modification

A loan modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically, but not always, result in a lower payment to the homeowner and a more affordable mortgage. Homeowners must qualify for the loan modification much the same way as they did for the original mortgage. This includes providing recent pay stubs, bank statements, tax returns, a hardship letter and numerous other documents. The federally sponsored HAMP (Home Affordable Modification Program) as well as other bank or state loan modification programs are available to homeowners. The process can be frustrating, difficult and time consuming, but well qualified homeowners are likely to hang on to their homes through these programs.

We are foreclosure avoidance experts who work with distressed sellers every day. We are knowledgeable, experienced and most important, compassionate, and we can help you through this difficult time. Contact us today for more information about this and other ways to save your home. If you are frustrated with the lender process, don’t know where you are in the system or just have questions. We can coach you and/or help you get answers. Don’t wait – you have many more options when you start the process early.