A Loan Modification is a legal negotiation in which a loan’s terms, like the interest rate, the monthly payment or the term, are changed to reflect the current situation of the homeowner. This is legal and done with the approval of the lender.

If you are facing a rising adjustable interest rate, if you have fallen behind on your mortgage or foresee falling behind on your mortgage due to financial hardship, or if you are 'upside-down' on your loan (owing more than your home is worth), then a loan modification is probably right for you.

During the Loan Modification process, your loan’s terms, like the interest rate, monthly payment or the length of the loan, can be renegotiated to match what you can pay. So if you can’t afford to make higher payments on your mortgage, we negotiate with your lender to keep the lower payments. Your assigned representative will contact you on a regular basis to keep you informed. You may also view the progress of your loan online when you log in.

Yes. However, it is very unlikely that a borrower could accomplish a loan modification or pay rate reduction alone. As you may know from experience, mortgage lenders are adverse to any suggestion of a workout from the borrower directly. Representing yourself in a modification process is very similar to representing yourself in a court of law. As a consumer you may not be aware of all the new laws in effect to protect you against the bank. The bank will however listen to our lawyers! We have top real estate attorneys and specialize in dealing legally with lenders. Our mission is to protect you and your home.

NO. This is not debt consolidation or refinancing. Our services are for Loan Modifications, whereby we renegotiate with your lender the current terms of your loan, ie. interest rate, loan amount and length of loan. If you are upside down on your home, or have been told "NO" to a traditional refinance, a loan modification may be right for you.

No. A loan modification does not hurt your credit. Modifications may be associated with bad credit because many borrowers have stopped paying their mortgage or have made many late payments. It is the late payments and missed payments that are reported to credit agencies by the banks. If you are current on your mortgage then you should not worry about your credit being downgraded. In fact, if you can save money on your monthly mortgage payment then you are more able to pay down your other debts. In the long run, this will help your credit score increase.

No. If you are still able to make your mortgage payments then please continue to do so. Never take advice from a company or individual who advises you to miss payments or pay late. This will hurt your credit rating and may prevent you from obtaining credit in the future.

In order to begin the process, simply fill out our online form located at the link "Apply Now". Or call us directly immediately. Beyond that, we will need to gather further income documentation and begin to form a picture of your current financial situation. If you are facing financial hardship, letters of explanation may be needed to explain your financial situation and its outlook. Together, we will help determine what is necessary for the modification package.

Exact time is truly dependent on a case by case basis. Because each individual has a unique financial picture and situation, each loan modification varies in time. The process may take only a few weeks, or possibly up to a few months. However, during the process you remain in your home. We negotiate with your lender to keep you in your home during this time.

YES! Oftentimes, we are able to capitalize at least one months payment in the process of the modification. However, we will never tell you to miss a mortgage payment to pursue a modification.

As stated previously throughout this website, we want to make very clear that lenders also want to avoid foreclosure. Lenders know that they will lose money by foreclosing on your home and trying to sell it. Because of this, lenders are very open to the Loan Modification process.

NO! Paramount Advantage Group handles all of the paper-work for you. You won’t have to worry about the legal jargon and negotiations. You never speak with your current mortgage holder. We perform all of the necessary legwork and take the headache away.

Not everyone may qualify for a loan modification. Often, this is the case when you have waited too long to act and take charge of your situation. However, if a loan modification is not an option for you, our real estate experts will explore every possible avenue to save your home and your credit.

RIGHT NOW! Time is of the essence in these matters. The faster you act to control your situation, the faster you will work your way out of it. The longer you wait, there are less options available to you.

Time is your worst enemy in these situations! Stopping foreclosure requires you to take charge of your situation and act now! If you’re worried about having enough time to stop foreclosure, contact us NOW...not later!

We have been very successful in modifying loans with our clients lenders. Remember, we specialize in negotiating with lenders. Our legal background and dedication to staying on top of modification trends has helped us (and our clients) to save many homes.

NO! Absolutely not! We work with your lender to negotiate your current loan terms. You remain the owner, title holder and note holder. In no way shape or form do we ever assume ownership of your property.