Other companies have contacted me, what makes First American Mitigators different?
First American Mitigators offer a comprehensive program for borrowers. We evaluate your personal situation to determine how best to make the Home Affordability Act work for you. First American Mitigators offers the widest variety of services: we do everything from Loan Modifications and Deeds in Lieu of Foreclosure, to connecting you with Short Sales specialists or refinancing experts.
We have experienced Loan Modification, Mortgage, Banking, Legal and Real Estate Professionals on staff. As your advocate, we analyze your existing mortgage and ensure all paperwork is in place and all laws are being followed. We include you in every step of the process. This means we are working toward your desired result and keeping you fully informed of the process from beginning to end. We even review your final Loan Modification documents to make sure you get the exact deal we negotiated for you.
Who is First American Mitigators?
Our veteran team is comprised of seasoned professionals with experience in:
- Real Estate Law
- Banking
- Underwriting
- Negotiating
- Short Sales
- Consumer Credit
Our negotiation team employs former FHA underwriters, who have spent the past 10 years putting together, underwriting evaluating, and originating residential mortgages. We understand the process better than anyone.
Our management team has over 50 years experience in the banking and mortgage industry. We employ an experienced real estate attorney, former bankers with over 20 years experience advising and evaluating consumer credit, a former financial analyst with 10 years lending experience, a realtor with short sale experience, a mortgage executive with 20 years in the industry including community supported senior housing programs, whose expertise and commitment to home ownership and retention is invaluable.
We are homeowner advocates. Utilizing our experience and contacts in the mortgage
and banking business we successfully negotiate on behalf of homeowners to reduce your monthly payment to an affordable sustainable level.
First American Mitigators is a Michigan company, based in Southfield and we have Michigan Lawyers supervising the work on your modification. We are always there to answer your questions and help you through the process. Our program fully complies with ALL Federal and State Laws. People just like you have turned to us for help and we have made a real difference in their mortgage payments.
What is a loan modification?
IT IS NOT A REFINANCE! A loan modification is a process whereby the terms of an existing loan are changed. The sole purpose is to enable the homeowner to meet the terms of the loan for the foreseeable future. With a loan modification, there are no credit checks, appraisals or points. We analyze your situation to see if we can restructure the rate and amortization of the loan, so that the modified payment is not more than 38% of the borrower’s monthly income. While it should be straight forward, this process it is not as easy it sounds. Even with the government program, lenders still need to be convinced that it is in everyone’s best interest to modify the existing loan. This is where our expertise comes into play. We present your information in a cohesive package in accordance with strict guidelines and deliver it to the appropriate person at your lender. Then we diligently work on your behalf to secure the best structure for you.
Under the Home Affordability and Stability Act of 2009 Homeowners who receive a loan modification stay in their existing home, in their existing mortgage, but with new and improved terms and conditions. They are able to reduce their interest rate, lower their monthly mortgage payment, and alter the term of their loan resulting in affordable sustainable secure mortgage payments. This unprecedented program to help American homeowners. As a result of the current economic conditions, and the federal investment and mandates to financial institutions, the federal government has created a new set of rules in the financial industry which makes this all possible. However this program will not last forever, you must apply by December 31, 2012 and you only get one chance, so it is imperative that you have the right team working to secure the best possible rate term and payment for you. |
Why shouldn't I do this myself?
- We are specialists in Loan Modification; we do them every day. With mortgage, real estate, bank, and legal professionals on staff, we know what is going on in the financial and real estate marketplace. We are YOUR bailout specialists; our clients benefit from our experience.
- We offer solutions - When we work with our clients, we look at the complete array of financial solutions available.
- We know who to speak to at the financial institutions to get the answers you need. Consumers can find themselves on the for hours being shuttled about from department to department and not getting straight answers.
- Stess-free - We know the process and act as your advocate to make the Loan Modification process as stress free as possible for you.
- We are experts - We know what to say to the banks, and what not to say. Say the wrong thing to your bank and the lending institution can result in LOSING your other lines of credit.
- We hold the banks accountable. Often bank credit personnel are not aware of their new responsibilities under the law; we know the law and can tell in no uncertain terms what your rights are.
When should I contact First American Mitigators?
 Homeowners who have experienced a decrease in income or who can demonstrate financial hardship should contact us immediately. We can tell you if you qualify for a loan modification. Do not delay as time is not on your side. If you qualify, you need to start the process today! Do not wait until your credit is affected by late payments. If you are currently behind on your mortgage payments, do not wait for the bank to foreclose upon you - call First American Mitigators today!
Since this is a new program and many banks are still formalizing how they are going to work with borrowers, it is invaluable to have an experienced advocate on your side to guide you through the loan modification process. With our legal banking and underwriting background we are qualified advocates to work with banks on your behalf. We speak their language. When necessary we are able to get even the most reluctant banks to renegotiate loans. Contact First American Mitigators today!
How much is an initial consultation?
We do not charge for our initial consultation and we present you with a clear picture of what we can do for you before you ever sign up. We do not charge up-front fees. We are with you every step of the way to make sure the bank does not take advantage of your situation.
Our Loan Modification Specialists are standing by to help you.
Call us now for a free consultation: 248-247-2404.
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