A Santa Clarita realtor is refuting a recent wave of alleged claims made by banks to homeowners that they can no longer get loan modifications on their mortgages.

“We’ve been hearing in my office people coming in saying that they were told by their bank that banks don’t do loan modifications anymore, and that is simply not true,” said Richard Szerman of Alta Realty Group.

Szerman clarified that the federal Home Affordable Modification Program (HAMP) ended Dec. 31, 2016, but that does not mean banks can no longer do loan modifications.

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“That program has ended, but banks are still doing loan modifications — they are abolsutely still doing loan modifications,” he said.

The reason for the continued opportunity to modify a home mortgage loan is actually because it is often in the financial best interest of the bank and their bottom line, in addition to the homeowner, according to Szerman.

“As long as you can present to the bank something that shows them that it is in their financial interest to do a loan modification, they will absolutely still do them,” he said. “We do them all the time … and we do them for free. We saved an awful lot of houses.”

Szerman recommended anyone having trouble making their mortgage payment or facing foreclosure — particularly if they have equity in their home, which makes them a bigger “target” because of the potential for the bank to make a profit on a foreclosure– contact him immediately for his free services.

“We’ll be happy to help you,” Szerman said. “There are many, many different things you can do.”

To contact Richard Szerman of Alta Realty Group, call or text 661-714-1400, email [email protected] or click here.

Richard Szerman of Alta Realty Group, Santa Clarita

https://www.youtube.com/watch?v=iXzOf9cVdAU

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