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our loan was modified last year in october. our payment was reduced to $3,650 from $4,100. the new payment is 41% percent of our monthly gross income. under president obama guidelines, payment should only be 31% of of monthly gross income. can we asked for a second modification based on the new guidelines?

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi sally,

You can definitely apply for a loan modification again with your lender. It would be your lender's discretion whether or not he would agree to your request. He would judge your financial situation and decide whether he would grant you another loan modification.

Like | Dislike | Share | Posted: Sun, 08/09/2009 - 19:56 | Post subject:

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