you have to make payment when starting the loan modification

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Icon Mini Profile mary




Joined: 05 Nov 2009

Posts: 1

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PostPosted: Thu Nov 05, 2009 7:55 pm    Post subject: you have to make payment when starting the loan modification

with the loan modification you have to start making payments to the mortgage company or not
Icon Mini Profile jenkin7
jenkin7



Joined: 04 Jun 2007

Posts: 3429
Location: Hawaii
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PostPosted: Thu Nov 05, 2009 10:42 pm    Post subject:

Hi Mary,

You should start making payments only after you have gotten written documents from your lender regarding the modification of your loan. You should not pay any upfront fees because it does not guarantee your loan will be modified. Once the lender formally informs you about the modification and gives you details of the modified repayment plan, you can start making payments.
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