MT MANAGEMENT CORP is your local Home Loan Modification Service. We are here to "Provide homeowners with customer service and access to legal represnetation, ensuring that a true financial solution is identified and implemented for the homeowner's benefit and financial well being."  We are here to help educate or show the homeowner what options they may have available to them.

What is a Loan Modification?

     A loan modification is a change to the loan contract which is agreed to by the lender and the homeowner.  The lender modifies the existing loan(s)  in order to work with the homeowner because of hardship. The purpose is to make the loan(s) more affordable.  Usually it is in the form of a rate reduction, fixing the rate for certain duration of time (Rate Freeze), or term extension. In the past, this was only used when a borrower was delinquent and suffered a hardship such as a job loss, divorce, illness, etc.

    Now borrowers can obtain modifications or freezes from their lender for unaffordable rate adjustments on adjustable rate mortgages. Ther earlier the homeowner addresses the issus, the better the chances are of negotiating a fixed rate and a payment that is manageable.

    If the homeowner can afford their home and just not their current mortgage payment, then they may be eligible for a loan modification.

    A key factor that is required in every loan modification is the existence of a financial hardship for the borrower.  The hardship can be temporary in nature or permanent, but the borrower must be able to prove the hardship.

    Additionally, legal issues present in the current loans(s) can be utilized as leverage during negotiations with the lender for a loan modification.  There are some violations that are so egregious that they may carry enough leverate to  warrant a loan modification in  and of themselves.

We are looking for all types of homeowners possibly with some of the following:

Someone suffering from the reset of an Adjustable Rate Mortgage (ARM)

Someone whose ARM has not yet adjusted but will

Someone who has a Negative Amortization (Neg Am) loan that has or will reset soon, because they have drained the equity from the home

Someone whose home is worth less than what is owed

Someone who is having difficulty with their mortgage payments because of a hardship

Someone who has had to care for a family member in a capacity which affected their income potential for a period of time

Someone who has been attempting to sell a home for an extended period of time and simply cannot get it sold

Someone who has rental properties that are sitting vacant because tenants cannot be found

Someone who has been affected by a divorce

Someone who has been the victim of predatory lending.