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Can a loan mod be done based on the value of the property, currently?

April 26, 2017based Currently loan mod Property value

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Can a loan mod be done based on the value of the property, currently?

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Actually, it is quite possible that your lending facility will consider your property value. A mortgage modification that is done with the consideration of the current market value of the property is called a principal forbearance. Basically what this is, is the loan modification agreement on payment is usually based on around 90% of the market value of the property currently. Anything over this amount is put on pause, until a later date when the property is either refinanced or sold.