Posted on: 09th Apr, 2009 11:44 am
I WANT TO MODIFY THE TERM OF MY MORTGAGE. I HAD A HOME EQUITY PRODUCT THAT COULD MODIFY THE RATE. NOW IT HAS BEEN CONVERTED TO MORTGAGE PRODUCT. I TRIED REFINANCING BUT NO EQUITY. I HAVE LOST INCOME AND I AM IN THE MIDDLE OF A DIVORCE. MY LOAN IS WITH CITIMORTGAGE 20 YEAR LOAN NEED TO MODIFY TO 30 YEAR.
Hi GRACE!
Welcome to forums!
You will get a loan modification if you have defaulted your mortgage payments. You will have to write a hardship letter to the lender and apply for a loan modification. The lender will judge your financial situation based on the hardship letter and decide whether he would accept or reject your request.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You will get a loan modification if you have defaulted your mortgage payments. You will have to write a hardship letter to the lender and apply for a loan modification. The lender will judge your financial situation based on the hardship letter and decide whether he would accept or reject your request.
Feel free to ask if you have further queries.
Sussane