How long does the Loan Modification procedure take?
Exact time is truly dependent on a case by case basis. Because each individual has a unique financial picture and situation, each loan modification varies in time. Working with your lender to reach a suitable arrangement can take anywhere from a few days to several months. It all depends on your current financial position, and whether or not foreclosure proceedings have already been started. Typically, it takes several weeks to complete a workout agreement and stop foreclosure proceedings. However, during the process you remain in your home. We negotiate with your lender to keep you in your home during this time.
