Not everyone who applies for a mortgage modification will get approved. Further, not everyone who gets approved for a mortgage modification will get their monthly payment reduced. If there is a company or a person who promises or guarantees a lower monthly payment, do not trust them. Read More
Tag Archives: rhode island mortgage modification
Rhode Island Loan Modification
What is a Loan Modification? If you live in Rhode Island and are having a hard time making your mortgage payment, you may be wondering about a loan modification. A loan modification is the same thing as a mortgage modification …Read More
You probably know that if you miss a mortgage payment, your mortgage will enter into default. If your mortgage is in default, then this can lead to foreclosure. But what does mortgage default mean, and how will it affect you? …Read More
Are you feeling overwhelmed by your mortgage payment? If you are, then you are not alone. In a recent study that looked at how stressed Americans feel about money, Rhode Island ranked the 13th most stressed state. Further, there is …Read More
First Homes and Mortgage Modifications
Purchasing a first home is a dream for many new families. However, homes are expensive, and many young families simply do not have enough money to put a large down payment on a home. This results in monthly mortgage payments …Read More
Another way that a mortgage may be modified is through a principal reduction. The principal amount is the amount that was borrowed to purchase the home. This is the amount that needs to be paid back. The principal amount does …Read More
Will a Mortgage Modification Affect a Future Mortgage?
A homeowner who is interested in applying for a mortgage modification may wonder if receiving a mortgage modification will affect the homeowner’s chances of getting a future mortgage on a different property. Each company has unique guidelines and criteria as …Read More
Can I Negotiate a Mortgage Modification?
A homeowner who is going through the mortgage modification process may wonder if they are have to accept the first offer from the bank. Homeowners are not obligated to accept the first offer from the bank, but if the homeowner …Read More
Mortgage Modifications in the News
Wells Fargo is a household name in the banking industry. In fact, it is considered to be the second largest bank in the world, and the fourth largest bank in the United States. Wells Fargo is also considered to be …Read More
If you fail to make your monthly payments on your home’s mortgage, your mortgage company can foreclose on the home. This means that the bank will take your property back, and you and your family need to move out of …Read More