ModifyUtah brings credibility to mortgage loan modification

SALT LAKE CITY--(BUSINESS WIRE)--ModifyUtah announced today they are now licensed with the Utah Division of Real Estate and have established a track record of serving homeowners as a trusted loan modification company in Utah. ModifyUtah helps homeowners avoid short sale and foreclosure, while lowering mortgage payments anywhere from $300 to $1500 a month.

There have been 2.6 million new foreclosure filings nationwide in 2009, and RealtyTrac lists 17,000 foreclosure properties in Utah alone. Thousands of additional Utah homeowners face the same fate with skyrocketing interest rates, falling property values and reduced income due to the current economic landscape.

As a result, homeowners need a local company they can trust to help them afford their home and stop foreclosure. ModifyUtah has established relationships with all major lenders and provides a professional team of lawyers, negotiators, and brokers who negotiate mortgage loan modification and debt settlement for homeowners, with a money-back guarantee.

"The number of Utah homeowners who are currently underwater or unable to pay their mortgage is astounding," said Alain Templeman, CEO of ModifyUtah. "We know these folks need help - and they need help from a reputable company who will complete the loan modification quickly. ModifyUtah is committed to helping homeowners afford their home, and we offer a money-back guarantee to ensure our clients feel comfortable with us at the helm."

The cost of a home loan modification is less than a refinance, and the modification pays for itself through reduced mortgage payments in an average of 6 months. According to VantageScore, a loan modification is far easier on a homeowner's credit score than a short sale, foreclosure, or bankruptcy.

Loan modification is certainly on the rise - according to the Mortgage Metrics Report*, home retention actions increased 22 percent during the second quarter of 2009. Compared to the first quarter of 2008, home retention actions have increased by almost 75 percent.

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