What Are The Requirements For A Loan Modification?

By
Real Estate Sales Representative with Prudential Douglas Elliman Licensed Real Estate Salesperson

Here are some of the acceptable reasons a bank would be willing to modify your loan:

If you are presently in a:

  • negative amortization loan
  • interest only loan
  • adjustable rate loan
  • facing foreclosure
  • are late on your mortgage
  • will not be able to pay your mortgage

Especially if you have financial troubles such as:

  • loss of employment
  • loss of, or reduced income
  • recent divorce
  • health issues and/or excessive medical bills
  • excessive debt
  • death of a spouse, family member, or co-income generator
  • increase of monthly payment obligations
  • loss or failure of business
  • property damage
  • incarceration
  • inability to refinance for any reason

Remember these are just some of the guidelines and I urge you to seek a professional to help you in the qualifying your situation.

I'll be more than happy to point you in the right direction.. just email me at ProRealtor@verizon.net

 

Friend me on Facebook 

Follow me on Twitter

Vincent Martinez Realtor

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

 

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
New York Queens County
Tags:
loan modification
how to modify my loan
modifying my loan
how to stop my foreclosure

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clip to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
300,056

Vicente A. Martinez

Realtor, Brooklyn - Long Island - Queens Homes
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information