How Loan Modification Works?
A loan modification is a change in the loan contract terms, such as the loan amount, interest rate, or overall terms of the loan that is agreed to by the lender and the borrower. The most common modification right now is a borrower with a high Adjustable Rate Mortgage or a high Fixed interest rate. Modifications are made when borrowers are having difficulty or can no longer meet the financial requirements to make their monthly mortgage payments. Lenders look at loan modifications on a case-by-case basis. The Loan Modification Groups Attorney's are able to renegotiate the terms of the existing loan with the existing lender.
Our goal is to change the terms of the client's loan without charging Closing Costs, Points or Appraisal fees.
http://www.lenderlister.com/mod/
1 comment:
I have a situation. My attorney has been involved with my lender for around 6 months now, while he said that he will be able to get the loan modified within 90 days. Is it possible if someone takes my case correctly and it can not be sorted out even in 6 months ?
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