How Can I Qualify For A Loan Modification When I'm Current on my Mortgage Payments?
A loan modification could be the answer you are looking for. . Even eligible homeowners who are current on their mortgages could qualify. . but you have to ask.
I owe more than my property is worth. Do I still qualify for a Loan Modification or refinance under HARP?
(HARP stands for Home Affordable Refinance Program -A Separate Program)
Eligible loans will include those where the first lien mortgage does not exceed 125% of the current market value of the property.
Do You Have To Accept "JUST ANY" Loan Modification?
You have the option of negotiating with the bank and accepting or not accepting the terms that they offer you for in a loan modification. If the terms are not designed to help you, by all means do not sign just any agreement offered to you. You new payments have to match your budget period. . over-extending yourself will only have one goal. . to go back where you are starting now.
Ok, What is a Loan Modification? A loan modification is one of the best options available for homeowners and lenders alike. Loan modification is a long-term solution that will help the borrower make their loan payments and stay in their home. A loan modification can be accomplished by decreasing the interest rate, or if an adjustable rate, changing it to a fixed rate. Your loan can also be extended in the period of time the borrower has to pay the loan back, and in some cases your loan can be switch to a different type of loan all together.
Loan Modification Help For Frederick Maryland