Unfortunately, there are circumstances in which a mortgage company may deny a homeowner’s application for a mortgage modification. The modification process can be confusing and there are certain financial documents and other important information that must be provided by the …Read More
There are some circumstances where a homeowner should say no to a mortgage modification. Sometimes, the terms of the mortgage modification aren’t beneficial to the homeowner. For example, the new monthly payment may still be too high, and even with …Read More
Homeowners going through a mortgage modification typically hire an attorney to represent them. This is for a variety of reasons. The largest reason is that an attorney, especially an experienced one, is familiar with the procedure of mortgage modifications. They …Read More
Before you agree to a mortgage modification, you may be wondering if it will impact your credit, and if so, if that impact will be positive or negative. The short answer is it depends on how your particular mortgage company …Read More
Although the two may achieve a similar result – a smaller monthly payment – a mortgage modification differs from refinancing. When a homeowner refinances a mortgage, their current mortgage is paid off and it is replaced with a new mortgage. …Read More
During a foreclosure, a home is repossessed by the bank and everyone living in the home is forced to leave. Obviously, this can be extremely upsetting and stressful. To many people, their home is truly their castle. It is where …Read More
Rhode Island is a great state, so it is no wonder that many homeowners choose to purchase a home in Rhode Island. However, sometimes a homeowner has difficulty making the mortgage payments on time. There are many reasons why a …Read More