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Hi. My loan was modify about 3 months ago. I was told from my attorney and also from the mortgage company that the loan modification amount is include it with insurance and taxes (it was not on writing ) so I end it up accepting the offer that mortgage company has offered but the taxes and insurance was not include it to that payment n !. The mortgage balance at the time when I applied for Mod was $199K and when I accept it the Mod went to $215K but the payment was lower to $210 less that what I was paying before. The main reason that I accepted was that I did not wanna loose my house and the other reason was that I trusted my attorney. Now am I eligible for another loan modification ?
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∙ 12y ago
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What is a modification on a home mortgage?
A home mortgage modification mean, "a change in already approved home loan either in interest rate or in its duration etc". Recently Obama administration has modified some 500,000 home mortgage loan.
If your parents took out a mortgage in their name how do you get a mortgage in your name for the same property?
A property cannot be mortgaged twice at once. Additionally, you must hold the title to the property to place it under mortgage. Unless the other mortgage is paid off and your parents give you the house, you will not be able to get a mortgage on it.
Can mortgage change payment on fixed mortgage?
No, not usually. Only if the loan is modified, or some other strange factor. In 99% of cases, fixed rate mortgages will have a fixed payment which never changes.
If you have a fannie Mae Mortgage with PMI can you take advantage of a refinance or modification to your mortgage through Obama's new relief bill?
Yes all Fannie Mae loans with enough persisitance can be modified.
How do you do a loan modification for Bank of America?
Follow directions... follow up with the bank at least once a week.Have at least $500 left over after all of you expenses are calculated against you income.That's about it.A different opinionAs a borrower, your finances have to support three things: 1) that you can no longer afford your mortgage payment at it's current rate2) that you WOULD be able to support your expenses with a modified mortgage payment3) that you have suffered a financial hardship (reduction in income or unexpected expenses)Obviously, there is a fine line of people that qualify under these terms. Most people that can't afford their mortgage wouldn't be able to afford a modified mortgage. I do this work daily at a mortgage company.
If you filled for bankruptcy then modified a mortgage can the mortgage company come after you or will it still be in your bankruptcy?
Great question for your BK attorney
Is it possible to have your mortgage loan modified if one is current on mortgage payments?
Yes, although mortgage companies are more likely to modify a loan in default.
Can chapter13 mortgage payments be modified?
Chapter 13 mortgage payments can be modified. The trustee must agree to new terms before a modification can be approved. However, a lender can object and appeal the modification.
Can a co signer of a mortgage be taken off after foreclosure?
Nothing can be modified in the mortgage after a foreclosure since the right to entry and sale has been exercised and the mortgage is no longer active. The foreclosure is final, it has been reported to the credit bureaus and once completed it cannot be revisited.Nothing can be modified in the mortgage after a foreclosure since the right to entry and sale has been exercised and the mortgage is no longer active. The foreclosure is final, it has been reported to the credit bureaus and once completed it cannot be revisited.Nothing can be modified in the mortgage after a foreclosure since the right to entry and sale has been exercised and the mortgage is no longer active. The foreclosure is final, it has been reported to the credit bureaus and once completed it cannot be revisited.Nothing can be modified in the mortgage after a foreclosure since the right to entry and sale has been exercised and the mortgage is no longer active. The foreclosure is final, it has been reported to the credit bureaus and once completed it cannot be revisited.
What is a modification on a home mortgage?
A home mortgage modification mean, "a change in already approved home loan either in interest rate or in its duration etc". Recently Obama administration has modified some 500,000 home mortgage loan.
Can children of deceased mortgage holder get loan modified?
That depends on the mortgage holder. In most cases, they will not modify the existing loan. However, they may be willing to re-finance with those that inherit it.
If your parents took out a mortgage in their name how do you get a mortgage in your name for the same property?
A property cannot be mortgaged twice at once. Additionally, you must hold the title to the property to place it under mortgage. Unless the other mortgage is paid off and your parents give you the house, you will not be able to get a mortgage on it.
Can mortgage change payment on fixed mortgage?
No, not usually. Only if the loan is modified, or some other strange factor. In 99% of cases, fixed rate mortgages will have a fixed payment which never changes.
If you have a fannie Mae Mortgage with PMI can you take advantage of a refinance or modification to your mortgage through Obama's new relief bill?
Yes all Fannie Mae loans with enough persisitance can be modified.
What is Modified whole life insurance?
This type of insurance is kind of like an ARM mortgage. You pay low premiums for a set time, but then they increase after that.
You have only coughed up blood once or twice?
Your question does not make sense. A modified option of your question could be, What action should you take if you have coughed up blood once or twice?
When can a bank send notice of acceleration on a mortgage?
With the new laws established by the Obama administration, mortgage companies can't accelerate mortgages until the homeowner is six months behind. If you are having trouble with your payments you should try to have you loan modified.
