Loan Modification problems

[dramesh]

I recently started my loan modification. When the loan modification started I showed a positive balance of $700. They agreed to do the loan modification, and said it will take around 30-45 days to approve. I sent them my pay stub when the loan modification started. But in the mean time, I got laid off. How do I resolve this. Will they ask for the paystub again ? Should I discuss with them my job loss. Please help

[Evan Bedard]

Hi dramesh welcome and thank you for joining the forum.

I recently started my loan modification. When the loan modification started I showed a positive balance of $700. They agreed to do the loan modification, and said it will take around 30-45 days to approve. I sent them my pay stub when the loan modification started. But in the mean time, I got laid off. How do I resolve this. Will they ask for the paystub again ? Should I discuss with them my job loss. Please help

You may want to let them know, as the modification will be based off the information you had provided. They may ask for additional paystubs, they may not... One bad part is that a change of income will pretty much cause the process to start over again..