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Refinancing after a loan modification

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wyperry Guest	Posted: Thu Jan 15, 2009 11:36 am    Post subject: Refinancing after a loan modification Like 0 Dislike 0 How soon after a loan modification can I refinance to take cash out? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10020 Location: Alaska 917.78 Dollars($)	Posted: Thu Jan 15, 2009 10:31 pm    Post subject: Like 0 Dislike 0 Hi wyperry! Welcome to forums! After a loan modification, you may have to wait for 8-12 months to get a refinance. It may also depend upon your lender whether he will be ready to refinance or not. However, you can even check out with other lenders as well who may help you in refinancing the loan. By the way why do you want to refinance the loan after a loan modification? Have your monthly payments increased after the loan modification? Feel free to ask if you have further queries. Sussane
admin3 Joined: 26 Jan 2009 Posts: 19 Location: USA 10.10 Dollars($)	Posted: Tue Feb 10, 2009 4:05 am    Post subject: Refinancing after a loan modification Like 0 Dislike 0 I think Smith had a good answer. _________________ Mortgage Loan Modification CDLoanmod.com 800 738 1170
sandi Guest	Posted: Sun Mar 22, 2009 11:03 am    Post subject: interest rate Like 0 Dislike 0 Doesn't an interest rate go down after a loan modification?
jameshogg Joined: 20 Dec 2005 Posts: 10148 Location: Nevada 941.94 Dollars($)	Posted: Sun Mar 22, 2009 9:54 pm    Post subject: Like 0 Dislike 0 Hi sandi, Yes, the interest rates may go down after a loan modification. However, as the interest rate goes down, the term of paying off the loan increases. Moreover, you should also note that the past due payments will also be added to your new payment plan which may increase your monthly payments. Thanks
eric1 Community Expert Joined: 04 Jan 2009 Posts: 1511 226.89 Dollars($)	Posted: Sun Mar 29, 2009 7:53 am    Post subject: Like 0 Dislike 0 Read the fine print on your loan modification agreement. See what it tells you about terminating the loan. _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote
slimygator Guest	Posted: Thu Jun 16, 2011 10:07 am    Post subject: refinance Like 0 Dislike 0 Who will refinance my Mortgage after a Modification to save home during a nasty divorce. Now need to get ex wife name off mortgage. ( payments were late due to divorce).
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12330 Location: bloomfield, ct 50.03 Dollars($)	Posted: Thu Jun 16, 2011 11:15 am    Post subject: Like 0 Dislike 0 Slimy, obtaining a refinance might present a goodly sum of difficulty. Modifications, done as a result of financial problems, won't be much of a starting off point for credit references to the new lender. Now if you have a lender in your pocket who's open-minded, compassionate and grateful for your potential business, then you may well get away with your plan. Sorry for the words, "get away," but that's kind of what your plan is about. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
niti18agarwal Joined: 21 Jul 2011 Posts: 4 1.47 Dollars($)	Posted: Tue Aug 16, 2011 9:03 pm    Post subject: Like 0 Dislike 0 When can i ask for a loan refinance after modification? _________________ condo financing Orange Beach | condo financing Gulf Shores
smithsussane Joined: 18 Sep 2008 Posts: 10020 Location: Alaska 917.78 Dollars($)	Posted: Wed Aug 17, 2011 9:30 pm    Post subject: Like 0 Dislike 0 Hi niti18agarwal! Welcome to forums! After you have paid the mortgage lender for few months as per your loan modification plan, you can contact your lender and ask for a loan modification. It will depend upon the lender whether or not he will consider your request. Feel free to ask if you've further queries. Sussane
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12330 Location: bloomfield, ct 50.03 Dollars($)	Posted: Sun Aug 21, 2011 3:02 pm    Post subject: Like 0 Dislike 0 Sensible...more than likely, though, it'll take a lot more than "a few months" for the lender to consider a refinance. And with modifications, the terms are pretty favorable for a borrower, so why mess with what might end up being a good thing. Of course, you could be one of those unfortunate souls whose modified payment is just about equivalent to the regular payment being modified. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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