Loan Modification

One of the key tools in a foreclosure negotiation is Loan Modification. Modifying the existing loan to lower payments and to make up for the mortgage shortage that initiated the Foreclosure proceedings in the first place.The modification can reduce your monthly payment to an amount you can afford.

Review your Foreclosure Options

Modifications may involve extending the number of years you have to repay the loan, reducing your interest rate, and/or forbearing or reducing your principal balance.

If you are offered a loan modification, be sure you know how it will change your monthly payments and the total amount that you will owe in the short term and the long term.

Carefully consider what kind of modification best addresses your needs. If you receive a loan modification and you still can’t make the payments, you may lose your home. We will explain the pros and cons of every option to you.  Schedule your appointment with one of our Kokua Team members.