Because there is no guarantee that a homeowner will be approved for a mortgage modification, many homeowners wonder if there is anything that can be done to improve the homeowner’s chances of getting approved. There are some tips that homeowners …Read More
When shopping for a home, most homeowners look for a mortgage payment that the homeowners can comfortably afford. However, many first-time home owners may not realize that the mortgage payment on the home can actually change throughout the life of …Read More
Homeowners considering a mortgage modification may wonder how it relates to filing for bankruptcy. Of course, the two are separate actions, but may go hand in hand to grant the homeowner some relief. Mortgage modifications may be applied for while …Read More
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 …Read More
In order to demonstrate a financial hardship during the mortgage modification process, a homeowner will typically need to write a financial hardship letter. This letter can be intimidating and daunting to write, especially since homeowners typically are not familiar with …Read More
In order to qualify for a mortgage modification, a homeowner must show that a hardship has occurred. The hardship must be financial in nature, resulting in it being difficult or impossible for the homeowner to make the monthly mortgage payments. …Read More
As the saying goes, there is no time like the present! If a homeowner is experiencing a hardship and is having a difficult time making the mortgage payments, has missed mortgage payments, or believes that they will have difficulty making …Read More
A homeowner who is experiencing a hardship and having difficulty making mortgage payments may be faced with the question of whether or not the home should be sold. This is an extremely difficult decision to make and there may be …Read More
When a mortgage is underwater, the homeowners owe more on the mortgage than the home is worth. If the homeowners are not struggling to pay the mortgage or do not wish to sell the home, it probably does not matter …Read More
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 …Read More