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Who are we
What is a ModLOAN™
Why does ModifyMyMortgage.com® recommend a no closing cost mortgage
Why take a ModLOAN™
Do I need to qualify when I go through the ModLOAN™ Program again
Are there truly NO closing costs
Will my balance increase
If rates go down further, can I go through the ModifyMyMortgage® again
Who are we
ModifyMyMortgage.com® and the ModLOAN™ program is brought to you by a team of consumer oriented, experienced mortgage professionals with over 33 years of mortgage experience. We have designed a program that helps you, the home buyer and current homeowner, save money and continue to take advantage of the economy when rates drop further.
The ModLOAN™ program was designed to provide you with a simple, 'win-win solution', to save you valuable dollars now and provide you an efficient vehicle to reduce your mortgage interest in the future.
ModifyMyMortgage.com® is an independently owned and operated company based in McLean, Virginia. The company seeks to provide content and mortgage related education to the consumer as an aid to help save assets, reduce debt and increase savings.
Disclosure: All loans subject to credit approval and property appraisal. Programs subject to change without notice. Adjustable Rate mortgage rates may increase after settlement. ModifyMyMortgage.com is NOT a mortgage lender.
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What is a ModLOAN™
A ModLOAN™ is a modifiable mortgage program where you can have far greater control over your mortgage than ever before because you are able to lower your interest rate and or switch loan programs without going through the refinance process.
This is extremely important when financing your home because of the unknown. The unknown being, what if your home value declines, what if you lose your job, what if your credit scores go down. All of these unknowns could prevent you from refinancing your mortgage to get a lower rate. With the ModLOAN™ you need not worry about any of these unknowns.
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Why does ModifyMyMortgage.com® recommend a no closing cost mortgage
For Purchasers-We know that we can not predict the rates, we do know that they cycle up and down. ModifyMyMortgage.com® believes that in today's higher interest rate market you should minimize your closing costs now, and have the ability to go lower in the future without worrying about whether you qualify for a refinance! The ModLOAN™ is the best strategy to use to finance your home.
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Why take a ModLOAN™
The ModLOAN™ program allows you to lower your monthly payments for one low fee instead of paying thousands of dollars on a refinance. You simply call, ask for a modification to your rate, sign two pieces of paper, pay a small fee, and your done.
Rather than charge you points and closing costs that can add thousands of dollars to your loan, we offer you the chance to lower your monthly payment by giving you a rate that is lower than your current rate without going through the painful refinance process. This gives you piece of mind knowing you can lower your rate even if your home value had declined, your credit score has gone down, even if your have lost your job.
It is our goal to keep your loyalty by earning it!
Don't Refi....MODIFY™. It makes perfect sense!
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Do I need to qualify when I go through the ModLOAN™ Program again
No. Simply call and request a modification. Sign two pieces of paper. Pay a small modification fee. No new appraisal, No new credit check, No income check, No worries.
Your done. It's that simple!
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Are there truly NO closing costs
Closing costs are associated with a refinance. Getting a reduced interest rate with the ModLoan does not require a refinance. The ModLoan is a modifiable mortgage which means you can lower your interest rate when rates go down without going through a refinance. Therefore, since it is not a refinance, there are no closing costs which are typically associated with a refinance.
Closing costs on a typical refinance can range from $2000-$20,000 and more. The only cost associated with getting a lower rate through the ModLoan is a small modification fee each time you modify. Call 1(800) 663-4396 for modification fees.
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Will my balance increase
No. When lower your interest rate under the ModLoan your balance will not increase.
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If rates go down further, can I go through the ModifyMyMortgage® again
YES! That is one of the greatest advantages of the ModLoan program. You can go through the ModLoan program as many times as you want.
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