Option One Loan Modification

Option One Mortgage Corporation is one of the largest mortgage servicers in North America. Based in Irvine, California, it operates as a subsidiary of H&R Block, a tax preparation company that also offers personal banking and financing services. Founded in 1992, Option One has serviced over $70 billion in sub-prime mortgages.

Like most sub-prime loans, Option One mortgages are adjustable-rate with an initial fixed-rate period. In recent years, many loans have reverted to regular rates and increased the monthly payments, putting many borrowers in financial difficulty. This is why Option One loan modification is gaining popularity among borrowers. Mortgage modification helps borrowers reach more reasonable loan terms with Option One, while stopping the foreclosure process to give them time to catch up.

Option One mortgage modification can be complicated, especially without legal representation. Because most calls are fielded to offshore call centers, it can be hard to get any real answers. The Option One loan modification process can drag on for several months without any assurance of stopping foreclosure.

The best thing to do is work with a loan modification attorney. A lawyer will also add credibility to your case, help you negotiate better rates, and increase your chances of getting an Option One loan modification. With the right team, you can get real results no matter how far behind you are.