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| Loan Modification Learn everything you need to know about loan modifications. Can't refinance? Are you in a ARM mortgage that's adjusted or about to? Late on your mortgage? Then this section for you! |
This is a discussion on Pre Loan Modification Questions and Concerns within the Loan Modification forums, part of the Foreclosure Forum category; Hi, I have some questions about loan modification. - What is the minimum requirement to be able to do loan ...
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| Junior Member Join Date: Jan 2009
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Pre Loan Modification Questions and Concerns Hi, I have some questions about loan modification. - What is the minimum requirement to be able to do loan modification? I seem to feel banks want us to be near foreclosure stage and with late payments with no other financial alternative before they will consider helping us. - Is there any charge when banks do the loan mod for us? - Being a responsible lender, I want to do loan mod before the the financial crisis hits home. With my payment on-time and no salary reduction yet, what is my chance of getting a loan mod? Is it worth going through the hassle to submit docs and do multiple phone calls at this time? Should I wait until I have a proven bad situation to go for the loan mod? I think it's the wait-and-see-and-hope-the-problem-will-go-away get us into such a financial mess. Thanks. CB |
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| Founder Join Date: Aug 2007 Location: Southern California
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: Pre Loan Modification Questions and Concerns Hi CB, Welcome to the forum and thank you for joining.................. The modifications given are up to the investors on the loans...............all of your questions would be answered with a quick phone call to the servicer to ask what options the investor on your loan has............they will let you know. Who is the servicer on your loan?
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