Sometimes, a homeowner’s situation may change yet again after a mortgage modification was approved. If this happens, the homeowner may be able to reapply for another mortgage modification.
Rules regarding a subsequent mortgage modification vary among mortgage companies. A homeowner may need to wait a predetermined amount of time between applying for a new mortgage modification, or there may no waiting period. Regardless of whether or not there is a waiting period, the homeowner will typically need to reapply for the mortgage modification and go through the entire application process again. As with a first time mortgage modification, there is no guarantee that the mortgage modification application will be approved. However, it typically does not hurt to ask.
The Mortgage Modification Center
If you have already modified your mortgage, and think you may need another one, please reach out to the Mortgage Modification Center. Attorney John S. Simonian has helped numerous families stay in their homes and may be reached at (401) 467-7998 for a free initial consultation.
Attorney John S. Simonian is a Rhode Island and Massachusetts lawyer who specializes in bankruptcy law and mortgage modifications. Click here to learn more about Attorney Simonian.