Upside Down Mortgage

Posts Tagged ‘Mortgage Modification’

Hi -

Just wondering if anyone here has ever had a mortgage modification thru Countrywide, or any other lender?

I am in process of doing this with Countrywide mortgage and wonder if it is difficult to do? When I spoke with my loss mitigation person at Countrywide, she advised me that she sends my info off to another person to get approved. She had said that I fell in the guidelines to get this, but she did not actually approve it herself.

I am stressing that I wont get approved. I was just curious on others experiences with it.

Thanks!

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Buy 3 Step Loan Modification

When people are having trouble keeping up with their mortgage payments or they want to take advantage of the low rates to lower their monthly payments, they can either choose to refinance or choose to modify their mortgage loan. Loan modification is gaining popularity, sometimes even more than refinancing.
Why loan modification?

If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible. You can go to the government set up website called Making Home Affordable (http://makinghomeaffordable.gov/modification_eligibility.html) to find out if you might be eligible for loan modification. The government is trying to help by offering these free resources. However, not everyone can be helped and not everyone can qualify. The simple questionnaire will help you find out if loan modification may be the solution for you.

Can I modify my loan?