Mortgage Loan Modifications
by Audrey from USA
Regarding mortgage loan modifications Hi Kate, it's me again. My question is What can I do? I have tried refinancing but there are so many foreclosures in my area, not my subdivision, but the area that my appraisal did not go through.
My Mortgage Company denied my claim for a hardship loan. My mortgage is too high that I can't afford to continue to pay it. I just want a lower interest rate and lower mortgage payment. I do not want to lose my home. I have a conventional loan. Thanks, Audrey
Kate Answers: Mortgage Loan Modifications
Dear Audrey, I feel your pain and wish I had a magic wand to waive over your mortgage woes. I applaud you for investigating your options. Here is another thought. Have you looked into mortgage loan modifications?
Please read these two pages to educate yourself on mortgage modification so you can decide whether it seems beneficial to you.
1- First you will want to determine if you are a good candidate for a mortgage modification
2- I am surprised at many firms charging $3000 to modify a mortgage because homeowners on the verge of foreclosure rarely have an extra $3000 tucked away. So go here to learn about an inexpensive way to handle your own mortgage loan modification
Modification Inquiries From Other Readers
Here is where to find more questions from other homeowners considering mortgage loan modifications. Mortgage Modification - Answers By Kate
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