apologies, I will update in 5 minutes. Again, sorry
apologies, I will update in 5 minutes. Again, sorry
Last edited by carthur; 07-25-2012 at 03:55 PM.
My friend just received a loan modification offer from Chase. After not making a payment for 18 months, and living in a house valued at about $250k, he has received the following offer.
New loan amount $340,000, to be amortized over 30 years. this includes $46,000 in unpaid interest
interest rate 4.25%.
The question he is mostly interested in asking, is this. Are there many examples, if any, of a lender waiving the unpaid interest, which in his case would lower the principal to $294,000.
Many thanks for any comments
Last edited by carthur; 07-25-2012 at 04:09 PM.
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