Help.....................

[Ocean2]

My aunt bought a home in Las Vegas in 2007 for $ 510 K with 10 % down with 1st & 2nd. She is currently renting it out to a tenant. Her first lender was Citizen Home Loan and is now with Citimortgage. She is still current with her mortgage but she could no longer afford the payments any longer.. (w/ tenant she still pays $ 2000) her 1st is interest only 10 year ARM. and 2nd is fixed for 30 years.

I don't know if a lender would modify her loan even though she does not currently live in it.. however she originally purchased this house because they wanted a new house for her & her children to live in the future. I just don't want to be negative, because they really like to keep this home and they don't want foreclosure in their credit report.

Are there any chances for her to get a loan modification ? I am actually helping her compile her financials to request a loan modification... I have been reading how to compile a loan modification proposal and also
I have also heard about forensic loan audit, wonder if that helps ?
Does she actually have to be late for (x) months for her lender to even consider a modification ?

any advise would be appreciated.. thank you

[Moe Bedard]

Ocean2,


Your Aunt would need sign into her account and submit the required documents online to see what the options are going to be.........because it is a rental it would be up to the investor on the loan........

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