Posted on: 07th Nov, 2009 09:29 am
I have an investment property that is now worth 143,000 and a loan on it for 350,000 in CA. If I get a loan modification for 3% interest only I could keep the home and continue paying the mortage. I met with a credit counselor and he mentioned that there are no modfication on investment propertyies.
Hi portoakland,
As far as I know, it will depend upon the discretion of the lender whether or not he would agree to a loan modification. Some lenders would never offer a loan modification for an investment property. You should contact your lender and check out his opinion in this regard.
As far as I know, it will depend upon the discretion of the lender whether or not he would agree to a loan modification. Some lenders would never offer a loan modification for an investment property. You should contact your lender and check out his opinion in this regard.
Hi,,,,,,,,,,,,,,,,
You can do a loan modification and even could you keep the home and continue paying the mortgage. But 1st thing that, You need to talk with your lender. If he will be agree then you can keep the home and continue paying the mortgage.
Good Luck....... :lol:
You can do a loan modification and even could you keep the home and continue paying the mortgage. But 1st thing that, You need to talk with your lender. If he will be agree then you can keep the home and continue paying the mortgage.
Good Luck....... :lol: