Do loan modifications actually help?

We've been reading about loan modifications, and they seem to be hard to get, as well as not too helpful. Is it worth pursuing one? .

Las Vegas, NV -

Attorney Answers (2)

Dorothy G Bunce

Dorothy G Bunce

Chapter 7 Bankruptcy Attorney - Las Vegas, NV
Answered

Loan modifications are not as hard to get as they used to be. Qualifying for a modification is about balancing your income & expenses.

I filmed a 4 part series explaining how loan modification works & am posting the link to the first section of that series for you to view.

Hope this perspective helps!

Lawrence M Garfinkel

Lawrence M Garfinkel

Foreclosure Attorney - Hartford, CT
Answered

A loan modification can mean reducing your interest rate or extending your maturity date and reducing your monthly payments. Depending on whether you want to keep your house and what the equity position is it certainly can be a good thing and you should look into it. Good luck.

The author of this posting is licensed to practice law in the State of Connecticut. This posting is intended as... more

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