Loan Modification Companies

Loan modification is a powerful way to get a handle on your debt in hard times, so it's useful to know the top 10 loan modification companies. If you're going through hard times, sometimes the best thing you can do to keep your home is to modify your loan to make your monthly payment more manageable. To help you do that, there are many loan modification companies who can guide you either for free or for a fee.

1. Your lender. If you are lucky enough that your lender has not sold off your loan to some oil magnate in Norway as part of a mortgage-backed-security, you can get in touch with your bank or other lender and negotiate new terms directly. This method of loan modification is probably the best and easiest way and has been the traditional method for decades of home ownership.  
2. The Department of Housing and Urban Development. The Department of Housing and Urban Development offers a free Homeowner's Hope Hotline at 1-888-995-HOPE. The hotline offers free counseling services and information about federal programs to help borrowers modify their loan.  
3. Federal Making Home Affordable Program. After the housing market crashed, the federal government decided to help out borrowers with loan modification through the Home Affordable Modification Program, or HAMP. This program helps struggling homeowners to use standard methods to modify their loans with their lenders and is certainly one of the best loan modification companies. Because it is a federal program, it is free to use but some borrowers may like some expert advice to help them through the loan modification process.  
4. Get-A-Loan-Modification. This online loan modification company guarantees pre-qualification for its services and prides itself on its fast turnaround. They have been around for 5 years and are familiar with the federal loan modification programs. However, their services are not free so make sure to exhaust the free programs before you look to this loan modification company.  
5. The Krup Law Group. If you can't get in touch with your lender yourself and you aren't eligible for the federal programs, this loan modification company will help you restructure your loan and prevent foreclosure.  
6. Loan Modus. Like the Krup Law Group, this loan modification company will help you to modify your loan for a fee.  
7. No Up Front Fee Loan Modification. This loan modification company will help you restructure your mortgage and lower your monthly payment without requiring an upfront fee. This guarantees that you will not have to pay anything until your loan is modified.  
8. Qualify For Hamp. Qualify for HAMP offers a free test to see if you are eligible for the HAMP program. They also offer to help you renegotiate your loan with your lenders. This loan modification company also has no upfront fees.
9. Easy Loan Modification. This loan modification company takes a DIY approach to loan modification. It offers a software package that lets you take a HAMP eligibility test prior to purchase and that will then walk you through the loan modification process. This is a great option if you don't want to be totally on your own but don't want to spend too much on other loan modification companies.  
10. Your Attorney. While your attorney can be very expensive, you have a personal relationship with him and he probably knows your situation better than anyone.