Sign up pmt

Terms and conditions

LOAN MODIFICATION AUTHORIZATION AGREEMENT

Client understands that this is an agreement between ("Client") and Modifications Loan, LLC, (hereinafter referred to as the "Company" or "ML") Client acknowledges that by signing this agreement that "Client" is agreeing to all terms set herein said "Loan Modification Authorization Agreement". Upon execution of this agreement, Company's Professional's, CPA's and or Consultants shall request, obtain, communicate and negotiate with said Client's Lender(s) in order to acquire a Loan Modification on behalf of Client. Should Underwriters of Company determine that Client's loan is not modifiable, Company shall provide a full refund. (See Warranties)

BREAKDOWN OF SERVICES:

1. APPLICATION PROCESSING AND COMPLIANCE REVIEW-
During the initial consultation, Modifications Loan will confirm underwriting approval for a loan modification and/or forbearance plan. This initial stage includes an ML underwriter review of the application, reviewing all the loan documents and RESPA documents received by the client and evaluating the accuracy of the Good Faith Estimates, Truth in Lending Disclosures, and Real Estate Securities Procedures Act requirements. Each Modification is individually "Case Managed". No two loans are treated the same. Each case is individually assigned to administrators in order to provide the best plan for Client's situation. Each Client is provided a "user-name & password" on our Company's secured site, providing an up to the minute account of their Loan Modification negotiation. Client will also be personally contacted by their Case Manager, usually by the following business day.

2. LOAN MODIFICATION PROPOSAL-
During the initial stage of the Loan Modification process, Client shall receive a "Document Checklist" in order to provide Company with all necessary documents to assemble for Lender submission. Once the "Hardship" package has been assembled, it will be presented to Lender for review. Upon receiving the "Hardship Package", Lender will contact Company to discuss a Loan Modification. The response time varies greatly, depending on Lender, Client's situation, accuracy of submitted documents and several other factors. Some Modifications can be resolved in as early as 30 days where others, depending on the complexities of the fore mentioned factors, negotiations may be extended as long as 180 days. Company's focus is to provide Client with the best not the quickest resolution.

3. LENDER EVALUATION-
In the final stage, your assigned Case Manager or Consultant will be in direct contact with both you and the Lender's Resolution Administrator. Modifications are often resolved at this time. Company may have several consultations with the Resolution Administrator before final Modification is presented and/or accepted. All correspondence, verbal and written will be updated in Client's file and e-mail notifications provided to keep Client immediately updated during "Final Stage" of negotiation.

4. ADDITIONAL PROVISIONS_
This is a written service for fee agreement between Client and Company regarding the senior recorded loan relating to the property. Subordinate position loans may be modified if requested by Client by separate agreement. In consideration of Company's services to Client, which include compiling of any and all Client financial and loan information, financial hardship information and other information deemed necessary to facilitate the loan negotiation. Client agrees to pay the total fee listed below if any modification occurs after Company initiates contact with clients lender. Client also agrees to provide Company, in a timely fashion, complete and truthful information requested by Company, reasonably necessary for Company to render its services under this agreement. Client acknowledges that Company cannot complete its loan modification services until Client has provided all of the information required by Company. Company makes no representation that any lower payment, lower balance or successful stop of foreclosure proceeding is guaranteed, except as provided below. Client acknowledges that Company makes no claim as a Foreclosure Consultant or provides any advice pertaining to slowing or stopping foreclosure. Client acknowledges that Company has no power to cancel, stop, delay, or in any way affect any foreclosure proceeding that may have been initiated by the Lender.

5. FEES AND WARRANTIES
The Loan Modification fee is $1995.00 dollars if paid in full at time of contract execution. Client may opt for a payment plan of $495 now then (5) monthly payments of $395.00, total ($2470.00) dollars. There are absolutely "NO" hidden or additional fees. You may rescind this agreement without penalty or obligation at any time before midnight of the 3rd business day after the date on which you made this agreement.
WARRANTY: Should lender not offer a modification on Client's Loan after Client provides Company, in a timely fashion, complete and truthful information requested by Company, reasonably necessary for Company to render its services under this agreement, Client shall receive a full and complete refund. This is a 100% money-back GUARANTEE!

THE PARTIES HAVE READ AND UNDERSTAND THE FOREGOING TERMS AND AGREE TO THEM.