Posted on: 21st Nov, 2013 11:14 am
Trying to get an udpate on whether anything has changed. Back a year or so ago, everything I read on loan modification programs state that your property must be a Fannie Mae/Freddie Mac property. Do we have any other options to obtain some type of loan mod? Any assistance would be greatly apprecaited.
Unfortuntely, no changes.
It is up to each lender to do so or not.
Even if the mortgage is owned by Fannie Mae or Freddie Mac, those lenders are not REQUIRED to do so. They are permitted to do so. Many choose to do so, but, not all.
It is up to each lender to do so or not.
Even if the mortgage is owned by Fannie Mae or Freddie Mac, those lenders are not REQUIRED to do so. They are permitted to do so. Many choose to do so, but, not all.
Hi Jay,
I agree with what John has said. There have been no changes in the rule. However, you can speak to your concerned lender and check out whether or not he may assist you in getting the terms and conditions modified. It will be completely the lender's discretion.
Thanks
I agree with what John has said. There have been no changes in the rule. However, you can speak to your concerned lender and check out whether or not he may assist you in getting the terms and conditions modified. It will be completely the lender's discretion.
Thanks
