The loan modification industry has changed significantly and unfortunately American Loan Restructuring has been forced to shut down its operations.    

Last year lenders were allocated $75 billion from the previous bailout plan specifically for loan modifications and it was expected to be used to complete 6 to 8 million loan modifications prior to December 31, 2009.  From our research, the formal number of completed loan modifications as of December 31, 2009 was ~650,000.  Of those that were completed, many have still ended up in default which have deterred lenders from granting further loan modifications.  Going into 2010 many lenders have publicly stated that they do not intend to grant many more loan modifications and are urging people to short sale their homes.   It is unfortunate that the lenders have taken this position.   

If you are an existing client we are doing everything possible to continue to service your account and we will make best efforts to continue to provide updates via the online system.  We can be reached at 1-877-333-6638.