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glogonz59 · Joined: 16 Sep 2009 Posts: 8 2.90 Dollars($)

my house is rent for less money i have to complete the payment and my saving are gone and i lost my job for about one year, Can i apply for loan modification? I still do my payment but i think am no going to be able to do the payment next month.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

You cna try for loan modification. The program is desinged for some one in financial trouble

Good luck

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Hi glogonz59,

Welcome to our forum.

If you unable to pay monthly dues to lender, After few month's lender will foreclosure to your house & sell off it to recover his invested loan amount. The Loan Modification is the best option to avoide foreclosure. You will be qualify for Loan modification if, You apologize for the loan for 3 months or more.The loan has been originated for more than 12 months.You have stable maximum income to pay loan dues & inrest retes. Loan has originated for more that 12 months. The property is must have in good physical condition. Then you will be elible for loan modification.

Thanks & Regards
gunz.ijjiistaff

jenkin7 · Posted: Sun Sep 20, 2009 11:21 pm Post subject:

Hi glogonz,

You can definitely request your lender for a modification of your loan. Borrowers often need to prove their financial hardship to qualify for a loan modification. The fact that you currently do not have a job will actually help you convince your lender that you are indeed in financial hardship and desperately in need of modification. You should also write a hardship letter to the lender for this purpose and request for a loan modification.

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i dont work do i qualify for loan modification