Old 09-30-2009, 12:31 PM   #1 (permalink)
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No mods done on the 2nd loan?
Does anyone know if its true that AHMSI is not doing any loan mods on the 2nd loan? The lender on my 1st is ASC. I would appreciate any feedback ... thanks!


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Old 09-30-2009, 12:38 PM   #2 (permalink)
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Re: No mods done on the 2nd loan?
Hi cowbotinva welcome and thank you for joining.

Quote:
Does anyone know if its true that AHMSI is not doing any loan mods on the 2nd loan? The lender on my 1st is ASC. I would appreciate any feedback ... thanks!
No I have actually seen many 2nd mortgages get modified, but it is much more difficult then to modify the first.

Many lenders are willing to settle 2nd mortgages for about 5-20% of the remaining balance...
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