Posted on: 14th Aug, 2009 02:22 pm
Why won't a lender agree to a loan mod. at "fair market value", yet then agree to a short sale, for the same amount??
hi jmicc,
it's totally the lender's discretion whether or not he would agree to a loan modification request of yours. the lender would judge your financial crisis and then take a decision. you can try to convince the lender for a loan modification by informing him about your situation in details. you may even contact a loss mitigation expert and take his help in negotiating with the lender.
it's totally the lender's discretion whether or not he would agree to a loan modification request of yours. the lender would judge your financial crisis and then take a decision. you can try to convince the lender for a loan modification by informing him about your situation in details. you may even contact a loss mitigation expert and take his help in negotiating with the lender.
jmicc
The decision will be based on several facots. If the lnder feel that the borrower will not be able to make payment after the modification then there is no need for them to sepnd time in modifying the loan
Short sale will be quick and easy at aht point
Good luck and feel free to ask
The decision will be based on several facots. If the lnder feel that the borrower will not be able to make payment after the modification then there is no need for them to sepnd time in modifying the loan
Short sale will be quick and easy at aht point
Good luck and feel free to ask