Extend Your Mortgage and Secure Your Property's Future
Our Mortgage Extension Options When You Need Them Most
At OHIO 4CLOSURE, we understand the challenges homeowners face with mortgage payments. That’s why we offer solutions to extend your mortgage term, reducing the monthly financial burden and helping you retain your home or commercial property. We can extend your mortgage term, spreading out payments to reduce your monthly burden and help you stay in your home or commercial property.
Through loan modifications, including recasting your current loan over a longer period, we can significantly lower your monthly payments. We can set up forbearance or loan modifications. This approach is designed to bring you back from the edge of mortgage default or foreclosure, providing the breathing room you need to regain financial stability.
How Our Mortgage Extension Works
Our process is informed by the latest regulations and best practices in mortgage management. For instance, the HUD’s regulations allow mortgagees with an FHA-insured mortgage to modify their loans by recasting the total unpaid loan for up to 480 months. This extension from the previous 360-month limit significantly lowers monthly payments, helping to cure a borrower’s default.
This strategic move aligns with the options provided by major mortgage entities like Fannie Mae and Freddie Mac, which both offer a 40-year loan modification option. By extending the loan term, your outstanding balance is spread over a longer timeframe, making it more manageable to retain your home even after default.
Extend Your Mortgage and Peace of Mindwith OHIO 4CLOSURE
At OHIO 4CLOSURE, we are committed to helping homeowners navigate through tough financial times. Forbearance loan modification or extending your mortgage with our expert guidance can be a crucial step in safeguarding your property and achieving long-term financial stability.
Contact us today to explore how we can assist you in extending your mortgage and securing your future.
How it Works: Our Process
Three Simple Steps
to Save Your Credit and Property
We ask seven questions so we can research your property.
We’ll schedule a meeting – virtual or in-person – to get more specific information and understand what your end-goal is.
We’ll meet with you again – virtual or in-person – to recommend the best solution for your situation and review the next steps to get started.