Loan Modification Forum - LoanSafe.org - View Single Post - Who is elligible for a loan modification?

Steve1 · 11-13-2007, 11:42 AM

What if you have equity but not a ton of equity. EX: 1st and 2nd leins = 240k. Fire sale on the home today would fetch about 300k. Would 60k be enough to motivate them toward forclosure? This assuming you have the ability to pay and you're willing to pay the whole defaulted amount?

11-13-2007, 11:42 AM	#4 (permalink)
Steve1 Member Join Date: Nov 2007 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Who is elligible for a loan modification? What if you have equity but not a ton of equity. EX: 1st and 2nd leins = 240k. Fire sale on the home today would fetch about 300k. Would 60k be enough to motivate them toward forclosure? This assuming you have the ability to pay and you're willing to pay the whole defaulted amount?