National Mortgage Help Center

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The National Mortgage Help Center is a for-profit organization that assists homeowners in obtaining loan modifications when they have either fallen behind with their payments or are at risk for falling behind.

For Profit

Why is it important to note that the NMHC is a for-profit company? Although this company does not pose as a governmental agency or attempt to trick homeowners into thinking they are agents of the government, the name of this company may mislead people to think that the company is working on behalf of the government to offer free assistance for struggling homeowners.

Just because this company is for-profit, however, it does not mean that the organization cannot assist homeowners in modifying their mortgage loans in order to obtain a smaller monthly payment.

Loan Modifications

Mortgage loan modifications adjust your mortgage loan in order to give you a smaller payment. This is a good choice for people who have fallen into one of these categories:

  • A job loss, divorce, or other event has substantially decreased income.
  • An adjustable rate mortgage adjusted to such a high level the monthly payment becomes difficult to make every month.
  • The homeowner falls behind in payments a month or two, but now has the means to make payments.

This is an important factor of loan modifications; you must be able to make your payments every month. Do not expect to obtain a loan modification if you cannot demonstrate the ability to make your new monthly payments every month.

National Mortgage Help Center as Liaison

A representative from this company will contact your lender in an effort to obtain a loan modification for your mortgage. These professionals are well versed in state laws pertaining to mortgage modifications and foreclosure avoidance.

The modification may:

  • Reduce your mortgage loan's interest rate.
  • Stretch out the amortization of your mortgage loan.
  • Reduce the principal balance that you owe on the mortgage loan.

Not everyone is eligible for mortgage loan modification, especially those who are far behind in their mortgage payments. It is also important to understand that lenders are not required to agree to mortgage certifications, even if you have employed a specialist to assist you in obtaining a modification for your mortgage loan.

Getting Started

You can request a mortgage loan modification without utilizing the services of companies like The National Mortgage Help Center. Contact your mortgage lender to find out what steps you need to take in order to request a modification.

If you decide to work with this particular company, here is what you should do:

  1. Visit the NMHC website or call (800) 710-6023 to speak to a representative.
  2. Respond to questions regarding your current mortgage loan to find out if you are eligible to request a loan modification. Be prepared to answer questions regarding the status of your mortgage loan, the name of your mortgage lender, the interest rate of your mortgage loan and any other details pertaining to your loan that will be useful for the representative to know.
  3. If you send this information via the company's website, you will receive a phone call from a representative who will explain the process to you. If your initial contact is via telephone, the representative will collect this information from you at first contact.

If you decide to utilize the services of this company, you give them the right to negotiate on your behalf to obtain a mortgage loan modification through your current mortgage lender. This is not a refinance, and you will only be able to modify a first mortgage loan as opposed to any equity loans or lines of credit.

A Popular Choice

The NMHC is a popular choice among mortgage loan modification negotiation firms. There are other companies available who do the same thing -a few of which are scams- so take a look at all the available options and read every document thoroughly before agreeing to work with this or any other company to obtain a modification.

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