Posted on: 22nd Feb, 2010 12:46 pm
Do you have the same three days to cancel a loan modification? If so, would I just submit a letter to cancel?
Hi sandmc,
If the loan modification offered by your lender does not help in any way, you can cancel it. Generally, the lender sends you papers regarding the modification of the terms of your loan, the new monthly payments, etc. If you've got any such papers, it should be mentioned there how many days you have to cancel the loan modification. You can talk to the lender regarding cancellation of the modification or you can also write them a letter stating you do not wish to accept the modification.
If the loan modification offered by your lender does not help in any way, you can cancel it. Generally, the lender sends you papers regarding the modification of the terms of your loan, the new monthly payments, etc. If you've got any such papers, it should be mentioned there how many days you have to cancel the loan modification. You can talk to the lender regarding cancellation of the modification or you can also write them a letter stating you do not wish to accept the modification.