Mortgage Modification
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“Don, Buddy, I don’t know what to say. You helped save my family’s home. Principle reduction and a 30 Yr Fixed! I cannot express my gratitude and appreciation for all you’ve done for us. Thank you so much!”
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Mortgage Modification is a process whereby a home owner's mortgage is modified and both the lender and homeowner are bound by the new terms of that mortgage.
The Most common mortgage modification options are listed below:
lowering the mortgage interest rate reducing the mortgage principal balance fixing adjustable interest rates within the mortgage increasing the loan term throughout the mortgage forgiveness of payment defaults and fees or any combination of the above
Mortgage Modification Agreement is the new contract that modifies your old mortgage agreement between you and your lender.
HUD Mortgage Modification Questions
Question: In utilizing the mortgage modification option to bring an asset current, can the mortgagee include all fees and corporate advances?
Answer: Mortgage Letter 2008-21 states in part: Legal fees and related foreclosure costs for work actually completed.
When mentioning this ad to a representative
you will save $250 on your loan solution
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