El Cajon, Vista, San Marcos A+ BBB Home Loan Modification – Help Stop Foreclosure | San Diego, California

For A+ BBB San Diego Mortgage Loan Modification Services CLICK HERE

The year-end report from RealtyTrac.com shows that 2009 had a substantial increase of new foreclosures from 2008, and a 120 percent increase from 2007. This means that there were almost four million reported foreclosure filings in 2009! California had the fourth highest foreclosure rate in the United States, with over 630,000 homes receiving a foreclosure filing in 2009. San Diego County is one of the areas to be hit the hardest, with the city of San Diego reporting 2,435 new foreclosure filings in December of 2009. If you are one of the many people to be affected by the housing crisis, don’t hesitate to contact HomeStart to find out if you qualify for a loan modification.

A loan modification is a change in one or more of the terms in your loan. This could mean a lower interest rate, lower monthly mortgage payments, and a lower principal balance.  The purpose is to allow the borrower to meet the new terms of the loan, in hopes of avoiding foreclosure. With the current declining home prices and competitive real estate environment it’s become even more difficult to re-sell your home after foreclosure. Lenders would prefer any solution where they can receive some payment. Therefore, the cost of foreclosure is actually more expensive to the lender than the cost of new loan modification terms, making a loan modification beneficial for everyone involved.

HomeStart offers nationwide residential, investment and commercial property loan modifications, and can also provide foreclosure prevention information and pre-foreclosure consultation. HomeStart is the only business in California with an A+ rating from the Better Business Bureau in both loan modification and real estate loan modification. While the California DRE reported approximately 495,000 registered Real Estate and Mortgage Brokers in California in August 2009, only a mere 300 were licensed to perform mortgage loan modifications. The A+ score that HomeStart received represents the BBB’s degree of confidence that the business is operating in a trustworthy manner and will provide excellent contracted services, while also providing a high degree of customer service. If you are unsure if you qualify for a loan modification or simply would like more information about the loan modification process, don’t hesitate to visit our website or call HomeStart for a free consultation.

Here is one recent example of a loan modification performed by HomeStart:

Property in San Diego, CA
Total monthly savings of $1,132.38/month

• Primary Residence:
  Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of$2,445.30.
• Modified to:
  Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments.

For more information please visit www.YourHomestart.com