Posted on: 26th Jul, 2009 11:45 pm
Can some one hlpe me, what I need to do to get the loan modificationprocess started.
My house value is less than I owe, still current on the payment.
My house value is less than I owe, still current on the payment.
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Apart from what Angela has suggested, I would like to add that you need to explain your situation to your lender. You should write a hardship letter to your lender and explain your hardship to him. You should submit all the required documents to him. This will help him to decide whether you qualify for a loan modification or not.
Thank you
Apprecite your help
Apprecite your help
loan modification process is designed for those who are not able to pay the monthly mortgage charges & are behind the schedule.
How true is this?
I have heard peopel who do not have much trouble got thier loan modified?
I have heard peopel who do not have much trouble got thier loan modified?
Hi homeowner!
Welcome to forums!
You have heard it correct. You can get a loan modification though you are not delinquent on your mortgage payments. When you apply for a loan modification, the lender would judge your situation based on your hardship letter and decide whether or not he would accept your request.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You have heard it correct. You can get a loan modification though you are not delinquent on your mortgage payments. When you apply for a loan modification, the lender would judge your situation based on your hardship letter and decide whether or not he would accept your request.
Feel free to ask if you've further queries.
Sussane
Thanks you for your response