Phoenix, (PressExposure) April 17, 2009 -- Two Arizona businessmen are out to reform home loan modifications. T.J. Montoya and Robert Sanchez of Santoya Financial are working to strip away the mystique and shoddy business practices that are quickly beginning to envelop the industry. Their goal? To tilt the odds in the favor of the homeowner using a completely transparent business practice thatâs backed by the federal government.
âAmerican homeowners have worked too hard for their homes to lose them to disreputable companies using scare tactics to make a profit,â Montoya said. âTerms such as ânet present value,â âbackend debt-to-incomeâ and âprincipal forbearanceâ can be intimidating to the average American. We speak the language of the big banks and work with them to develop a solution thatâs fair to our clients.â
To that end, Santoya Financial has worked closely with the federal government and HUD to develop a plan that offers homeowners a chance to reduce their monthly mortgage payments while stopping foreclosure proceedings.
As part of the $75 billion homeowner bailout plan announced by the Obama Administration on March 4, homeowners are now able to apply to HUD to suspend foreclosure proceedings and apply for loan modifications. Santoya Financial works to help homeowners apply to the HUD program and then assists them in renegotiating their loan, once their application has been approved by HUD.
âThis is a no-risk option for homeowners who are facing foreclosure,â Montoya said. âThe program is backed by the federal government and any fees are refundable, if the loan modification cannot be completed.â
Once an applicant has been approved, Santoya Financial will negotiate directly with the financial institution that owns the homeownerâs mortgage to reduce the monthly payment and lower the interest rate on the loan. The companyâs background in the industry allows them to negotiate the fairest-possible deal available for its clients.
Santoya Financial also provides the HUD counseling that many homeowners will be required to participate in if their mortgage is modified.
âWe help put our clients back on the path to financial stability without losing their piece of the American Dream,â Montoya said.
For more information, call 1-877-SANTOYA or visit [http://www.santoyafinancial.com].
Contact: Al Stevens Santoya Financial Phoenix, AZ 480-235-1770 firstname.lastname@example.org [http://www.santoyafinancial.com]