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What if I fall behind in payment after modification approval

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klambert Joined: 19 Feb 2009 Posts: 2 1.58 Dollars($)	Posted: Thu Feb 19, 2009 8:44 am    Post subject: What if I fall behind in payment after modification approval Like 0 Dislike 0 is it likely that my mortgage co will attempt to make my mortgage and intrest rate go back to the original amount a interest rate. what happens when my loan modification is approved and i fall behind in my mortgage payment
eric1 Community Expert Joined: 04 Jan 2009 Posts: 1511 226.89 Dollars($)	Posted: Thu Feb 19, 2009 6:51 pm    Post subject: Like 0 Dislike 0 The bank will not modify your loan unless they are certain that you can make the new payments. _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Thu Feb 19, 2009 10:57 pm    Post subject: Like 0 Dislike 0 If you are past due on your payments and if you have not informed your lender, the lender can simply foreclose the property. Your credit score will be ruined due to the foreclosure.

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