Salvation Financial provides a range of services designed to help you stabilize your financial situation and keep your home.

• Loan Modification 
• Forbearance 
• Legal Representation of Lending Violations 
• Refinancing
• Short Sales 
• Tax Consultation

Loan Modification:

A loan modification is the altering of one or more of the characteristics of your loan. When a homeowner has taken out a loan to purchase a property and is not able to repay it in accordance with the pre-set schedule and terms when the loan was acquired, they are faced with a few very tough choices:

• Foreclosure
• Deed in Lieu
• Short Sale
• Loan Modification.

The only option that does not force the homeowner from their home is the Loan Modification. With the help of Salvation’s Loan Modification Specialists, we work with your bank to:

• Reduce the interest rate temporarily
• Reduce the interest rate permanently
• An interest only payment
• Stretching the amortization
• Principal balance reduction
• Forbearance agreement
• …or a combination of these changes.

Legal Representation of Lending Violations:

In many cases, a loan modification is best handled by an attorney who can identify and disclose legal issues and lender violations to encourage the bank's cooperation. Our network attorneys can analyze your loan documents for RESPA and TILA violations, as well as predatory lending practices. It is believed that approximately 80% of all loans originated from 2001 to 2007 contain some predatory violations. If the attorneys can identify statutory lending violations, this can be used to your advantage in negotiating a loan modification that meets your needs.

Short Sale:

A Short Sale is the sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many banks will agree to accept the proceeds of the short sales and forgive the balance of what is owed when the owner cannot make the payments. By accepting a short sale, the bank can avoid a lengthy and costly foreclosure and the owner is able to pay off the loan for less than what is owed. Salvation has real estate professionals who are experienced in short sales and can help guide you through this complicated process.

Forbearance:

A loss mitigation option where the bank arranges a revised repayment plan for the homeowner that may include a temporary reduction or suspension of monthly loan payments. Salvation’s legal and loan modification specialists will work with you to determine eligibility for forbearance or other loan modification option.