Loan Modification Q&A - Top 10 Questions Answered- Question #8 - Do I have to be presently behind on my payments to qualify for a loan modification?
Most banks/lenders are presently accepting applications from home-owners who are not currently behind on their payments. If the home-owner is able to prove to their bank/lender that due to just round the corner interest rate increases they will no longer be capable paying for the loan under the terms of their agreement. There are several other reasons the bank would be willing to do a lon modification.
It is worthwhile to contact your bank/lender as soon as possible regardless if you are delinquent or not. We can assist you in taking the first step (and throughout the entire process) in order to help you avoid the impending rate increase. Email me at ProRealtor@verizon.net or call me directly at 646-294-2561 to get started before the your interest rate re-sets.
In case you missed the previous article Question #7 - Will the bank stipulate an interior examination of the property condition? click here
To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/
SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/
Disclaimer: The above Real Estate information was provided by Vincent Martinez, Realtor for the #1 Real Estate offices in New York and the #4 office in the USA. Vincent Martinez is a Certified Realtor Short Sale Professional by the Long Island Board of Realtors (L.I.B.O.R.) and a member of Prudential Douglas Elliman - Licensed Real Estate Broker. Vincent Martinez does not guarantee or is any way responsible for the accuracy of the information in this blog post and information provided is without warranties of any kind, either express or implied. Information here represents the opinions and ideas of the author; comments by others may not express the views of the author. Copyright © 2008 By Vincent Martinez, Loan Modification Q&A - Top 10 Questions Answered- Question #8 - Do I have to be presently behind on my payments to qualify for a loan modification? All Rights Reserved.
Comments(0)