Diamond Point Properties is here to help home owners in need of a loan modification. We at Diamond Point designed this help center to give you some background information about loan modifications. As a fully approved broker with DRE, Diamond Point Properties received a formal approval by the state agency to accept advance fees for the service of helping those who are need of a loan modification's. There are many so called loan modification companies that don't have the proper licensing and offer the service. It is extremely important that you work with a company who can legally accept advance fees and work on your behalf and provide proper loan modification assistants.

Experienced Loan Modification Consultants

With over a decade of experience in the real estate industry, we know how to negotiate your loan and we won't stop trying until we achieve a desirable result. Throughout the ten years that we have been in business we have worked with asset managers, mortgage executives, and attorney's representing lending institutions and the servicing companies who work for them. Being in the industry and working with the people who make the decision as to whether or not a loan modification will be granted is key to successful outcome.

Loan Modifications come in different forms but quite frequently they involve the reduction of mortgage's interest rate for a specified period of time so the owner can continue to make payments and stay in the . Loans can also be modified so they have a longer amortization term (e.g. 40 year instead of 30 year) which will cause the payments to decrease. Principal write downs are rare, but they do indeed happen where the bank actually writes down some of the principal amount.

All major banks are modying loan terms. Sepcifically the ones that did high risk loans. High risk loans are loans with characteristics like 100% financing, high interest, 1st and 2nd high ltv combo loans, subprime, etc.. Banks either service the loans themselves or they sell off the servicing rights to companies like Aurora, GMAC, Litton Loans, EMC Mortgage, Citi, and many more.