Is loan modification an option for me?

This is actually a very broad reaching question, however with the right tools and knowledge Advanced Mortgage Services may be of help to you.

First, loan modification is not a new loan (like refinance). It is a change in the terms of your existing loan. General qualifications include:

• Loan MUST be controlled by Freddie Mac or Fannie Mae
• Mortgage originated before 1/1/2009
• Home MUST be the owner’s primary residence
• Have a mortgage balance of less than $729,750
• The owner’s debt to income ratio must show that the monthly mortgage payment is more than 38% of the owner’s pre-tax monthly income.
• Mortgage difficulties must be due to financial hardship (i.e. change in income, unexpected medical expenses, increase in payments)

Advanced Mortgage Services is conveniently located on the South Shore in Braintree, Norwell, & Plymouth.

For additional information on services offered by Advanced Mortgage Services please call 781-659-6555, 508-747-9520, 888-665-6345, or visit www.ams-loan.com. A Fair Housing and Equal Opportunity Lender, Advanced Mortgage Services is a fully insured and licensed Massachusetts Mortgage Lender and Mortgage Broker (license #MC3702.)