is it possible to get a loan modification on a 2nd home? - Loan Modification Forum

patterson · 07-23-2009, 01:53 PM

when my father refied, he switched the loan (on new house) from my mothers name, to my grandmothers.

the monthly payments are over 2K, and she already owned a home when all this happened. yes he took advantage of her (shes 80 years old).

now if the new house goes into foreclosure, they will put a lien on her house.

do you think its possible for me to modify the new house loan?

--> this is not the entire story but im giving a quick summary to see what you guys say. <--

Evan Bedard · 07-23-2009, 03:05 PM

Hi Patterson welcome and thank you for joining the forum.

Yes it is possible, but it will be more difficult. Can you explain a few more details:

Which lenders service these loans?
Do you have a first and 2nd on both properties?
Is she currently behind on any of the loans?
What are the terms of these loans?

07-23-2009, 01:53 PM	#1 (permalink)
patterson Junior Member Join Date: Jul 2009 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	is it possible to get a loan modification on a 2nd home? when my father refied, he switched the loan (on new house) from my mothers name, to my grandmothers. the monthly payments are over 2K, and she already owned a home when all this happened. yes he took advantage of her (shes 80 years old). now if the new house goes into foreclosure, they will put a lien on her house. do you think its possible for me to modify the new house loan? --> this is not the entire story but im giving a quick summary to see what you guys say. <--

07-23-2009, 03:05 PM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: is it possible to get a loan modification on a 2nd home? Hi Patterson welcome and thank you for joining the forum. Yes it is possible, but it will be more difficult. Can you explain a few more details: Which lenders service these loans? Do you have a first and 2nd on both properties? Is she currently behind on any of the loans? What are the terms of these loans? __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

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