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fanti42 · Joined: 20 Nov 2008 Posts: 3 1.74 Dollars($)

Had gotten loan modification last year but things got bad trying to get another.

jameshogg · Posted: Fri Dec 12, 2008 8:30 pm Post subject:

Hi fanti,

As far as I know if you're delinquent even after a loan modification, the lender will consider this as a new default. The lender will then service the loan accordingly. But I would ask you not to lose hope. You should speak to lender and check if he is ready to offer you another loan modification or not. You can even try out for a forbearance. In this process, the lender will either reduce or suspend your payments for a certain period of time depending upon your financial situation. The lender will also give you a repayment plan.

Thanks

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Can get more than 1 loan modification on a mortgage