Credit Answers, A Leading Provider In Debt Settlement, Launches A Loan Modification Division

    PLANO, TX, July 10, 2009 /24-7PressRelease/ -- Credit Answers, a leading debt settlement firm, located in Plano, TX, has launched a loan modification division to broaden its debt relief scope.

"In addition to our outstanding debt settlement services, we are thrilled to be able to offer loan modifications to help homeowners in need. If you are struggling to make your mortgage payment, already late or getting ready to lose your home, a loan modification can reduce your monthly payments to a manageable level. Credit Answers Mortgage Services will negotiate mortgage loan modifications with your lenders to help you lower your monthly payments. Credit Answers Mortgage Services works with almost all lenders and loan types, including government loans."
-Bill Loughborough
CEO & President of Credit Answers

How Does a Loan Modification Work?

A loan modification is the restructuring of a current loan to re-establish the client's mortgage and create a monthly mortgage payment that will work within a client's budget. A loan modification is not a refinance; it is an enhancement to a current mortgage loan to create a payment that can fit within a client's budget. A successful loan modification will result in saving thousands of dollars over the life of the mortgage.

When a borrower experiences a hardship, Credit Answers helps the lender understand that the financial position of the borrower has changed. Most lenders are willing to negotiate the revision of the original loan terms in an effort to prevent foreclosure. The lender is usually not interested in taking your home. The average cost of a foreclosure has been known to exceed over a $50,000 loss for the lender. With this information in mind, Credit Answers uses experienced, skilled mortgage negotiators to renegotiate the terms of a mortgage and give our clients the lowest monthly payment possible.

A loan modification may result in a reduction on the principal mortgage loan balance, interest rate, or an extension of the length of the term of the loan. Lenders are normally open to loan modifications because the cost of doing so is less than the cost of default or foreclosure.

Credit Answers Mortgage Services is honored to be a member of the National Loan Modification Association of America. Credit Answers strives to provide its client's with the service and support they deserve.

Credit Answers realizes the importance of money in people's lives and also the accompanied strain that debt can cause. To assist its clients, Credit Answers offers financial education with a commitment to specialized personal debt settlement service. Through established relationships with creditors, Credit Answers represents its clients vigorously. Credit Answers has been selected as one of the leading credit and debt professionals of the Western United States by Goldline Research and is a proud member of The Association of Settlement Companies (TASC). The firm is located just north of Dallas in Plano, Texas.

Credit Answers specializes in debt settlement, credit card debt negotiation and avoiding bankruptcy. Credit Answers works to enable a new and fresh financial start for individuals with debt problems.

Source: Credit Answers
Website: http://www.creditanswers.com

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