Fentura Mortgage Loan Modification

Fentura Mortgage is a major bank holding company affiliated with several community banks in Michigan. Although it serves both business and commercial markets, its most popular products are mortgage loans, especially in the sub-prime markets. This high-risk client base has also prompted them to offer mortgage assistance to delinquent borrowers who are at risk of foreclosure.

In recent years, many Fentura borrowers have looked into loan modification. Also called mortgage modification, the process allows them to negotiate better rates with the company while foreclosure proceedings are put on hold. To qualify for a Fentura loan modification, one has to prove that he or she is in financial hardship and that they can stay on track once the loan modification is granted.

Because of the volume of mod requests, a Fentura loan modification can take over three months to process. For borrowers who can’t afford to waste time, it’s best to work with a loan modification attorney who has connections at Fentura to help push the papers forward. A lawyer can also lend credibility to one’s case and bargain better with the bank.

Mortgage modification isn’t the only option available at Fentura. If one doesn’t meet the requirements, a loan modification attorney can discuss other options such as a short sale or deed-in-lieu. Although these won’t help borrowers keep their homes, they help reduce credit damage and make it easier to recover one’s finances.