Posted on: 19th Feb, 2009 07:44 am
is it likely that my mortgage co will attempt to make my mortgage and intrest rate go back to the original amount a interest rate. what happens when my loan modification is approved and i fall behind in my mortgage payment
The bank will not modify your loan unless they are certain that you can make the new payments.
If you are past due on your payments and if you have not informed your lender, the lender can simply foreclose the property. Your credit score will be ruined due to the foreclosure.
