Posted on: 05th Jul, 2009 08:30 am
Is there a modification plan available for those not in foreclosure?
It really depends upon your situation and the bank
Hi Guest,
There are loan modification plans available for those not in foreclosure. But as Eric said, it depends a lot on your lender and the situation you are in. If the lender is convinced that you are in financial difficulty, they modify your loan. Otherwise, they reject your loan modification application. Is your loan owned by Fannie Mae or Freddie Mac? If it is, then you may also qualify for the Home Affordable Modification Program, introduced by the President Obama.
There are loan modification plans available for those not in foreclosure. But as Eric said, it depends a lot on your lender and the situation you are in. If the lender is convinced that you are in financial difficulty, they modify your loan. Otherwise, they reject your loan modification application. Is your loan owned by Fannie Mae or Freddie Mac? If it is, then you may also qualify for the Home Affordable Modification Program, introduced by the President Obama.
