60 Minute Loan Modification Review - Loan Mod FAQ
July 3, 2009 on 11:36 am | By admin | In HomeWelcome to my 60 Minute Loan Modification review!
I can’t afford to bring my loan current-can my missed payments be added back in to the loan? Generally your lender will allow your missed loan payments to be added into the new loan balance and spread out over the term to make it affordable. Some lenders may require the first months new loan payment as good faith for the new loan modification.
How can I find out if I will qualify for a loan modification with my lender? The # one requirement your lender is looking for is proof of your ability to pay the new loan payment now and in the future. When you provide your lender with properly completed financial statements, you prove to your lender that you can afford the new payment .