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
A homeowner who is currently making the mortgage payment on time, but anticipating that a hardship may occur may wonder when the best time to apply for a mortgage modification is. In the past, some mortgage companies would not consider …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
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
Whether a mortgage modification is temporary or permanent depends on the investor guidelines and how the loan was written. Mortgage companies, based on these investor guidelines as well as the loan’s specific criteria, may offer a mortgage modification for a …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
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