First step in the auto loan modification process is to obtain your personalized Options Report. Think of it as similar to your Appraisal Report when buying a new home. This document will provide you with detailed explanation of your options, pros and cons for each one of them and present alternatives for your consideration. You will receive your Options Report both electronically and in printed format, delivered directly to your home. It typically takes between three to five days to prepare your report and have it ready for review.

After you have reviewed your Options Report you may decide to engage Auto Relief Group to provide you with the hands on help in restructuring your loan. ARG will work with your current lender, acting as a trusted third party and a valuable “buffer” between parties involved.

The final step in your loan modification process is the actual closing and execution of modified loan documents. Auto loan contracts are much simpler and require few if any additional filings, taxes, stamps or use of 3rd party providers or title insurers. After you have accepted the modified terms, we will use a Mobile Notary service which will meet you at your home or work and notarize your new loan docs, effectively concluding the process.

While there are no universal rules, our experience shows that the earlier you start the process the better your chances of negotiating a successful transaction. Lenders hate wasting more time and money on “bad” deals and prefer to get constructive proposals that make sense.

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