I am seeking to obtain a modification on my mortgage with PNC. I did not q
I am seeking to obtain a modification on my mortgage with PNC. I did not q
I am seeking to obtain a modification on my mortgage with PNC. I did not quailfy with the federal government. Now, PNC tells me I must sign the forbearance and pay a much reduced amout each month for three months, then reapply for modification or hardship with them as a inside loan modification. Is this obtainable or a way to forclose on my home. They say if I am approved tey will adjust my notes, give me a lower interest rate, put the balance that is due at the end of the note. Again I am leary about this and would like advice. Thanks
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It looks to me that what they're saying is that they'll give you a Trial Modification at this time, and if you meet the stipulations of the trial, they'll consider switching you over to a permanent modification. They want to see that you can make payments under the new terms before they make it permanent. Ask them that specific question, and you should get a straight answer.