Posted on: 02nd Oct, 2010 04:17 pm
Due to astronimicsl medical bills had to ch 13. in 2007 now lenders want me to midifiy the loan I own 393k +70 second house appraised today at 197k. Is this worth trying to save since home was included in ch 13 could have gone ch 7 but wanted to pay some of medical bills.so we did. should we let forclosure go ahead or try loan modification. Home was left broom clean but squater moved in an stole appliances,ceiling fans,took up laminate floors about 12k to get in tiptop shape.
Hi ted,
If you want to save the property, then it will be better for you to go for a loan modification. A foreclosure won't help you in saving your property and it will also have a negative affect on your credit report. A loan modification, on the other hand, will help you in saving your home and you'll get a better payment plan to pay off the loan.
Thanks,
Jerry
If you want to save the property, then it will be better for you to go for a loan modification. A foreclosure won't help you in saving your property and it will also have a negative affect on your credit report. A loan modification, on the other hand, will help you in saving your home and you'll get a better payment plan to pay off the loan.
Thanks,
Jerry