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jpalomares4 · Joined: 15 Sep 2009 Posts: 12 4.35 Dollars($)

I have a loan of 158,000 that's currently in the process of being modified. If it goes through, does anyone have an idea of what my payments would be? the interest rate currently is 4-5% which is 3-4 point lower then what i currenlty have. thanks

savior70 · Posted: Thu Nov 05, 2009 6:47 am Post subject:

Hi,

It's completely up to your lender how he will modify your loan. He may extend the term of the loan or may reduce the interest rate. It is hard to say how much reduction there will be in your monthly mortgage payments. But it is good to know that you've been approved for a loan modification and I believe something positive surely will come out of it.

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