Nearly all lenders in Utah will also consider rate reduction programs which; can substantially reduce a borrower’s monthly payment amount. In order to lower the monthly mortgage payment, lenders frequently offer “rate reductions” which serve to reduce the amount the borrower pays monthly, by reducing the interest amount.

Especially during the early years of a mortgage reduction schedule, nearly the entire payment is going to pay interest. If the interest is lower, the payment can be reduced accordingly. Today many lenders also offer “temporary rate reduction” programs in which the interest rate is reduced (often well below the market rate) for a period of time to allow the borrower to “get back on track.”

To find out if you are eligible for a loan modification or if you have any questions about the services we provide, contact us by Phone at 866-297-3883 or email at info@shortsaleadvocate.cc.