It is interesting to see that the cost of a loan modification process around the country can range from $995 to $9000 and even higher in some cases.  Everybody seems to Guarantee 100% that their process will work, yet they don’t tell you much about anything. At Nextwave Financial, we believe in disclosing all facts to our clients and keeping them informed every step of the way.

Step 1: We review your documents and determine if your case is something that we can help you or not. We provide you with our analysis and give you a rough estimate based on our previous work with the same bank and similar situation. No one can provide you 100% guarantee unless they own the bank, so be aware of any company that will guarantee as you will be disappointed down the road. However, we do have a ton of experience and can estimate based on past experience. Your cost at this point is $0.00. This is absolutely FREE!  Without looking at your documents, it is not possible for us to see if you do qualify for a loan modification or not.

It is our philosophy that the client should be thoroughly informed of all facts, details, pricing, procedures so there is no questions about any part of the process. We believe that once we have completed your loan modification process, you will tell all your friends, family members, and co-workers! Unhappy clients do not make good referral sources and a any good business strives to improve its customers satisfaction.

It is important to mention that the amount of work that is required to perform a successful loan modification is significant and can take on the average over 100 hours and in some cases as much as 150 hours given the amount of paperwork, verifying documents, getting in touch with the lenders and its representatives and keeping in touch with the homeowners.
Step 2: If we feel that we can help you based on our analysis and you are confident with our past performance, we sign an agreement. You do not pay any fees until we complete the loan modification service.  Please be advised that we do charge for our loan modification service as we are not paid by the lender or any other third party. However, the fees are due upon successful completion of  the loan modification process.  Estimated completion from contract date can vary from lender to lender as they are very backed up, however, on the average, it is about 6-10 weeks.

Step 3: During the long submission and negotiation process, we contact you with feedback and updates. This process may take a while as the lenders are very backed up and we have no control over how quickly they process file, but we do keep up with your file (s) constantly to ensure it is moving forward.

The cost for loan modification service can vary as we offer various loan modification programs and is best to get a customized quote. Some clients may have up to 3 loans which may require separate negotiation with different lenders, or if the client is in foreclosure and need additional representation. Other factors include if the lender has forwarded the file to an attorney for collection, or if there is an active lawsuit against the homeowners.  We also do loan modification for motor homes and commercial loans, so it is best that you contact us so that we can provide you with a customized solution that includes all details such as total cost, estimated timeframe, payment plans, and honest analysis of your situation.
 
 As a homeowner, you should be very wary of a company that charges $1000 or so for a loan modification process as it is simply impossible to do the work involved and not lose money.  We all know that this would lead to minimal or no results in which case you would have been better off doing the work yourself. We are licensed by Department of Real Estate and our attorneys are licensed through the Bar Association and can do loan modifications nationwide. Please contact us for complete licensing information. We have many experienced negotiators and analysts who work hard on each file to achieve the best possible results. All of our files are negotiated by experienced negotiators who know the lender’s policies and procedures as well as the bank loss mitigation departments. They bring a ton of experience, negotiation skills, and professionalism to each case. We would be glad to give you more details upon request.