Yes. The lender isn't going to spend the time to rework a loan you can't pay anyway.
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.
If a homeowner suffers financial hardship.They should apply for Loan modification from lender to reduce monthly payments on there mortgage as a way to minimize financial hardship.That's it.
You can contact the loss mitigation department of the lender your loan is being serviced through or you can search for a HUD approved non-profit counseling agency. Beware of the many loan modification scams that are out there.
Depending on how you serviced the previous loan, i.e you have demonstrated a track record of prompt payment in full each month, are currently employed, and have a small debt to income ratio; you should have a good chance of securing another loan.
This question should be handled by an attorney,Any loan modification paper work signed after bankruptcy proceeding are a new contract which yes make you liable for that debt.
The answer is no. I am a Certified Signing Agent and I am also a Loan Modification Consultant, but that does not mean that I need to be one in order to become a loan modification consultant. Glena
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.
take the money and run
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.
No. Deeds affect ownership of the property. A new deed isn't necessary for a 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."
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.