How long is the Loan Modification process?
You will see relief in as little as two weeks or a couple of months if FHA guaranteed loans are involved. In the meantime, lenders are amenable to halting foreclosure proceedings and even the sale of a home! The added benefit of this process rests in the fact that you may be able to skip one mortgage payment and get back on your feet with your budget. Since the majority of reputable lenders prefer to have you remain a customer for life than selling off your home at a loss and thus not realizing the profit of the interest payments, the process is usually not delayed.
