loan modifications

Loan Modifications

Posted by on Feb 28, 2011 in loan modifications

For those that have a payment increasing because of an ARM, a loan modification may be a good choice for you if you aren’t too far behind on payments. If you get past the Minnesota sheriff sale then you wouldn’t do a loan modification at that point.  You may have to sell for over the low bid at the sheriff sale, or do a short sale if the lender is still willing to negotiate.  Our agents are here to help...

Read More »

Loan Modification Help

Posted by on Feb 26, 2011 in loan modifications

If you are looking for a home loan modification with your current lender for your loan and mortgage situation, your lender may have their own version of a loan modification program.  Many lenders don’t have the incentive that you think they do to give loan modification help, where a foreclosure may be the desired outcome.  The reason is the bank has outside insurance policies and others that are ready to pay them upon your loan failing, so they may...

Read More »

Loan Modification

Posted by on Feb 4, 2011 in loan modifications

Many home owners attempt to do a loan modification and find out that they are often not approved, or if they are, it works for a trial period until the bank no longer want to do it.  The banks actually don’t have an incentive to work with you, but that’s another topic and another book.  If a homeowner wants to stay in their house they’ll think the loan modification is the only option.  There is another option if you start...

Read More »