Comments on: Loan Modification Basics

By: kelly

kelly — Thu, 13 Nov 2008 14:47:47 +0000

WILL I HAVE TO GO LOAN MODIFICATION ALL OVER AGAIN WILL THIS TAKE A LONG PERIOD OF TIME

By: kelly

kelly — Thu, 13 Nov 2008 14:45:54 +0000

I WAS RECENTLY APPROVED FOR A LOAN MODIFICATION BUT THE DOWN PAYMENT A LITTLE HIGH SO WE ASK IF WE COULD GET A 2 WEEK EXTENSION SHE SAID IT HAD TO BE PAID BY THE 23 OF NOVEMBER IS THERE ANYTHING WE CAN DO. WE CAN PAY THE AMOUNT JUST NOT THE EXACT AMOUNT THEY ARE ASKING FOR

By: Barbara Partaka

Barbara Partaka — Thu, 17 Jul 2008 02:19:03 +0000

Hi Kathy,

Thanks for reading the post.

If you have received a loan modification, be sure to check and see if you have a better/lower rate than you originally had. Do you now have a fixed rate? Are the new monthly payments really within your true financial budget? Are the taxes and insurance included or not. Sometimes you specifically have to ask for these things to be worked into your loan modification. Read your terms carefully. If you don’t understand some of them, contact the negotiator who approved your plan. And if there are things that need to be changed, you can request a new loan modification review. You would be applying all over again for a loan modification to change some of the terms.

Hope this helps. Let us know if you have more questions.

Barbara Partaka
Home Buddies

By: Kathy

Kathy — Wed, 16 Jul 2008 19:39:23 +0000

How do you know if a loan modification was done correctly or if it’s right for you?

By: john toth

john toth — Wed, 09 Jul 2008 01:58:52 +0000

Thank you