There are many things to consider while deciding if a mortgage modification is appropriate. One concern that homeowners may have is if the mortgage modification affects a homeowner’s ability to sell the home.
There are many reasons, both personal and financial, that a homeowner may decide to sell the home, even after a mortgage modification. A homeowner may want to relocate to another area, either in the same state or to another one. The current home could no longer be working for the family – perhaps they need something smaller, or a different layout. The home could be in need of major repairs that the homeowners do not wish to pay for. Children could have moved out, or other relatives could have moved in.
Whatever the reason may be, the fact that the mortgage has been modified cannot prevent the home from being sold. The homeowner may still sell their home when they wish, and when the home is sold, the mortgage will be paid off.
The Mortgage Modification Center
If you have any questions regarding a mortgage modification, please call the Mortgage Modification Center at (401) 467-7998 for your free initial consultation. Attorney John S. Simonian has helped many families stay in their homes through mortgage modifications.