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What types of modifications are available?

April 26, 2017modifications types

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10 Posted

What types of modifications are available?

1 Answer

0

10 Posted

This depends on a variety of factors including who your lender is, your current loan terms, whether there are violations of lending laws, whether your home is worth less than the loan, the nature of any financial hardship, your housing debt to income ratio, and how much you can afford. The possibilities include lowering your interest rate, re-amortizing your loan over 40 years, fixing your interest rate, forbearing principal, deferring back payments to the back side of the loan.