RISE Real Estate Group

Loan Modification

A Loan Modification helps make your mortgage payments more affordable and keeps you in your home by adjusting loan terms.
RISE Real Estate Group
RISE Real Estate Group

Here’s what you need to know

Eligibility

You must show a loss of income or increased living expenses, have continuous income (wages, Social Security, disability, or pensions), and at least $300 in surplus income. Your surplus should not be enough to clear arrears within six months.

Trial Payments

Complete a 3-month Trial Payment Plan (4 months if facing imminent default).

Payment Reduction

Your new payment must decrease by at least 10% or $100, and the loan will be re-amortized over 30 years.

Time Limits

You cannot receive a Loan Modification more than once every 24 months.

Interior Design

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This information is reliable but subject to lender discretion.
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Loan Modification Help You Can Trust

Lenders can include legal fees and foreclosure costs in your loan balance but must waive late fees. They may inspect your property to confirm there are no issues affecting payments. The interest rate will match the Market Rate based on Freddie Mac’s latest rates, rounded to the nearest 0.125%.

Lenders will also review your escrow account to ensure taxes and insurance are accurate. If you’re unemployed but your spouse earns income (even if they’re not on the mortgage), the lender may consider household income but consult legal counsel.

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Short Sale Guidance That Works for You

If you owe more than your home is worth and are facing foreclosure, a short sale could be your best way out. With the lender’s approval, you can sell your home for less than what’s owed—and walk away without the weight of full repayment.

We’re here to make that process smooth, respectful, and stress-free. Our team works closely with lenders to negotiate fair outcomes and help you avoid foreclosure while protecting your future credit. If you’re looking for a trusted team to guide you through a short sale, you’re in the right place.

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