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.

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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 including FAQs.

Modification Inquiries From Other Readers

Here is where to find more questions from other homeowners considering mortgage loan modifications. Mortgage Modification - Answers By Kate

Take a moment to bookmark Mortgage Loan Modifications to your favorites and visit often for more mortgage tips. You can also invite friends to comment on this page or ask another question of their own like you did.

Please let me know if you have more questions. I always enjoy hearing from you!

Best Wishes,

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P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

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