A mortgage loan modification in general terms is any change made to the existing mortgage loan. Changes made to the mortgage interest rate, balance, term, or penalties can all be constituted as mortgage loan modifications. There are numerous kinds of mortgage loan modifications that are available here at National Mortgage Mediators for you:

Total Modification- The lender restructures the mortgage by creating a new principle balance as well as changing the mortgage interest rate and term.
Partial Modification- The lender restructures the mortgage by one or more of the following: delinquent payments, mortgage interest rate, balance, and term.
Discount Payoff- The lender agrees to accept a lump sum payoff that is less than what is stated on the original mortgage loan.
Pre- approved sale- Lender accepts a discounted payoff via sale in lieu of foreclosure.
Deed in Lieu- Lender agrees to accept deed from borrower in lieu of foreclosure. This saves the lender time and money

Our team of expert associates will be able to determine what options are available for you after going through your current mortgage loan information and financial status and then provide you with the necessary statistics and figures.