Upside Down Mortgage

Loan Modification Chase Mortgage

Question: Does anyone know of a loan modification program on home?

mortgage? I have been interested in refinancing because of being caught in a interest only loan because I can't afford a conventional loan. I heard about this loan from Chase Colby. I am afraid to get into something that I don't know about. If anyone knows if this is a good thing to get into. Please give me some advise. Thank You

Answer: Many of those loan modifcation programs are scams. They can't do anything for you that you can't do for yourself. If you are on an interest only loan I would be very surprised if you have any equity at all. Read the terms of your loan document as it should list some options for conversion. Too many loan modification operations benefit the company and not the client.

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