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Can a co-borrower be removed with a loan modification?

Updated: 8/19/2019
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12y ago

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If the lender agrees to it.

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12y ago
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Q: Can a co-borrower be removed with a loan modification?
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You cant get a mortgage loan can i put your sister on the loan eventhough she live on a different state?

You can add your sister that lives out of state. One of my personal favorite loan for this is the FHA loan. She will be classified as a "Non-Occupying CoBorrower"


Can I remove my ex-wife's name from my mortgage deed and loan through a loan modification?

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Is a closing agent required for a loan modification in New York?

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Can a person's name be removed from a loan as coborrower if he wins a civil lawsuit?

It depends on the circumstances. That depends on whether the bank was a party to the lawsuit. If the court ruled the loan document was a forgery it may be binding on the bank. If you co-signed a loan and sued the other borrower regarding the payments, the bank isn't obligated to take your name off as co-signer. You would need to negotiate with the bank.


Can I qualify for a loan modification regardless of my Loan Type ?

A loan modification is up to the discretion of the lender. The type of loan doesn't really matter as much as the willingness of the lender to work with you.


Can a mortgagee include late charges on loan modification?

No because a loan modification is set in place to give the client a fresh start. The client should waive all the late fees that he/she had before the loan modification.


How do you get loan modification?

You have to apply to your lender for a loan modification. Some people use attorneys to make application on their behalf, and others choose to go the "do it yourself mortgage modification" route. If you decide to do your own home loan modification, make sure you get your paperwork correct. You need to know precisely what your lender requires, otherwise your application will be rejected. It may be a good idea to buy a loan modification system that can show you, step by step, how to go about the loan modification application.


Is a new deed issued in a loan modification?

No. Deeds affect ownership of the property. A new deed isn't necessary for a loan modification.


Which companies offer mortgage loan modification?

"Every mortgage lender or mortgage servicer offers mortgage loan modification. There are also many third party companies that offer mortgage loan modification, but work with them at your own risk."


Who can provide Loan Modification Success?

No one can guarantee that your home loan modification will be a success. It ultimately depends on your Lender as to whether or not they choose to modify your loan. However, if you provide your Lender with all of the documentation that they require, in the manner that they need it, then your chances of a successful loan modification will be greatly enhanced.


How do you do a loan modification to your loan?

When facing a foreclosure or something of that nature, you have to make a loan modification so that it doesn't affect any other financial firms or accounts you have. So you will have to visit www.modificationhelpnetwork.com


How can you fill an application on line for a loan modification for Bank of America?

Hello, I want to fill a loan modification application online for bank of America asap.