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Home Loan Modification FAQs
Q: Why should I use YOUR Company?
A: Principal Mitigation Corporation (PMC) is different in theory, process, approach, and implementation from every other company operating in the loan modification industry. PMC's driving principal and goal is to provide trouble homeowners with honest and ethical loan modification help. From our custom designed software to the professional negotiation agents, all of our clients' needs are handled in a professional and timely manner.
Q:What makes your company different?
A: No other company offers the support, oversight, value and protection that is offered by PMC.
Q: How do I know my loan modification is actually being done?
A: PMC's system supplies you with a personalized dashboard that allows you to follow the step-by-step progress of your file. You will have interactive access, through PMC's proprietary software, with your personal negotiator and PMC at all times throughout the process.
Q: Are you a scam?
A: Absolutely not. As a matter of fact, our company and systems were created as a direct response to the overwhelming number of reports of homeowner's falling victim to loan modification con artists and predators. PMC has examined and evaluated the problems inherent in the system and has developed a process that addresses these issues and protects the homeowner's interests.
Q: Should I try to send my lender a payment?
A: PMC recommends our clients make their mortgage payments to the best of their abilities. Clients are often misled that they MUST be behind on their payments in order to qualify for assistance. On the contrary, there are programs available for clients that have not yet fallen behind on their mortgage payments. The federal government has developed an incentive program for lenders who facilitate loan modifications prior to foreclosure notice being filed.
Q: Do I qualify for federal assistance?
A: Currently the federal government has programs available for select homeowners. Usually, these programs entail payment to the lender instead of payment to the homeowner. Whether you meet the current criteria or not, we will assist you in making sure you receive what's available to you from your lender.
Q: How long does the process take?
A: The process varies from lender to lender, and is dependent on your unique situation. Modifications have been approved and completed within 10 days or less, most take 30-90 days. With PMC, we have a vested interest in making sure that you get as timely a response as possible so you can be on the road to stability, and feel confident referring others to our company.
For helpful Home Loan Modification definitions and terms, click here.
If you have any other questions regarding Loan Modification, please don't hesitate to Contact Us today!
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PMC, My brother tells me you might be able to help my husband and I sort through getting our mortgage modified with Wells Fargo. I have been in a never ending loop with them for about 4 mths now and seem to be getting nowhere. He thought you might be able to be of some assistance maybe at least...Read more »
- Sheri
I am quite pleased so far with the attention, diligence and care your company, particularly Angie F., has given my mortgage files and the progress we have achieved up to this point. I have no hesitation in recommending you to others who are looking for a reputable company to assist them...Read more »
- John S
I was contacted by a representative of Principal Mitigation Corporation regarding a loan modification of my current mortgage. I was in a financial crisis that was unmanageable. I was at first apprehensive because I had been granted a modification the year before and was terribly...Read more »
- Patricia
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