Pembroke Pines, FL -- (ReleaseWire) -- 03/12/2009 -- If you live in areas such as south Florida and you bought a house within the last 5 years, then you are probably having equity issues, such as no equity or worst negative equity, which mean you are upside down and now owe more to you lender than your house is worth. Or if you are being denied for a Fort Lauderdale Refinance Loan for other reason such as low credit scores, late mortgage payments or even foreclosure, then a Fort Lauderdale Loan Modification could be answer you been waiting for.

Now what is a loan modification?

A loan modification is a restructuring and renegotiation of an existing mortgage loan. Now most of us have done some type of loan modification in the past, but just don't know it, for example; If you have ever called your credit card company to ask for a reduction in your interest rate, then you have done loan modification. Getting you mortgage modified however can be a little trickier.

"In essence, a Fort Lauderdale Loan Modification allows home owners to continue living in their home while making more affordable payments," says Marlon Baugh, a, Florida based Loan Modification Consultant. "A Fort Lauderdale Loan Modification is a long term solution for borrowers with hardships that over burden their budgets."

The Fort Lauderdale Loan Modification is becoming one of the mortgage industries most popular tools for preventing a foreclosure and creating a win-win situation for both lender and homeowner. As the typical terms will normally be more affordable for the home owner and will put them back on track and the lender gets to collect its interest payments in a timely fashion and won't have to go through the expense of foreclosure.

When foreclosures are prevented then families get to keep their homes, the surrounding neighborhood maintains the value and the lender maintains a profit.

It is important for Fort Lauderdale home owners to understand that Fort Lauderdale Loan Modifications are on a case by case basis, on the individual level as well as the lender level, each lender have their own guidelines for loan modifications and with saying that, no one or company can guarantee any results.

If you choose to hire a Fort Lauderdale Loan Modification company to handle you modification and they make these types of guarantees, then don't do business with them, as the lender has the final say. Don't get me wrong, but while I want home owners to be aware of unscrupulous Fort Lauderdale Loan Modification companies that are looking to take advantage of people, there are also reputable companies that can present the home owners case the right way to the lender that maximize their chances of getting the modification approved. In most cases, the lender only gives the homeowner one chance within any 12 month period whether it's favorable or unfavorable, so choosing a legitimate Fort Lauderdale Loan Modification Company can be beneficial.

Florida - based Loan Modification Expert Marlon Baugh specializes in providing Loan Modification information to Florida residents that allows them to make informed decisions about their Loan Modification options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Marlon Baugh is available for interviews and will welcome all your mortgage related questions.

Call 954-678-5796 Ext.1 for a Free No-Obligation Consultation or visit http://specializedfinancialsolutions.com