Posted on: 10th Aug, 2009 09:28 pm
I have applied for a loan modification with GMAC and was accepted under the Obama plan, I turned the mofication doen and I am attempting a modification for a lesser amount for I am unable to afford what the bank offered. Please tell me how does a modification work (second attempt).Will I get approved?
zacajo
Welcoem to the forum
The bank will re evaluate your situation and may come back with an offer.
It varies from person to person
Good luck and feel free to ask
Welcoem to the forum
The bank will re evaluate your situation and may come back with an offer.
It varies from person to person
Good luck and feel free to ask
It would have been better if you could have accepted the first loan modification offer given to you by your lender. Now, it would depend upon the lender's discretion whether or not he would give you a better offer. The lender may give you the same offer without lowering the payments.
DISCUSS WITH LENDER AND RESOLVE THE ISSUE.