Modification

K

Kizzy

Guest
Hello my question is if your loan modification has been approved and u are sending in the final paperwork and your payment for February will not be paid till march 3rd will it be held against you will they cancel everything or will it go against your credit?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,827
463
1,000
48
Southern California
www.loansafe.org
Hello,

Often they will take that into account and adjust your mortgage balance accordingly so it should not affect you. But sometimes they make a mistake with dates and amounts which can lead to problems.

With that said, hope for the best and stay tuned to plan for the worst just in case the former occurs.
 
A

Ally in Philly

Guest
Generally, your payment must be made before the 30th or end of the month for that its due during your trial plan period. It sounds to me that like you may be in trial payment plan, especially if you are still submitting financial documentations. If that is the case, your permanent modification documents have not be finalized (notarized) by you and the lender. You can contact the lender and ask for an extension on the trial plan.