Posted on: 24th Jul, 2009 10:04 pm
I don't feel comfortable submitting my mortgage modification package to my lender as I'm not sure if they will help me. Is there a service that can look over my package for a small fee and give me advice on whether I am submitting all the right information that will result in successfully modifying my loan so that it makes more sense. Right now, I'm only paying minimum payment and of course my loan amount keeps increasing. I want to be able to start paying the principal of the loan. It's really stupid to be just adding more onto the back end of my loan. Will they work with me and lower my interest rate as well as keep my payment small? I will be going into foreclosure if my payment doubles at a set time as I'm in an adjustable rate right now.
Thanks kindly!
Thanks kindly!
realreality,
welcome to mortgagefit.
It appears from your information that you are very truthful person.but I will advice you that instead of going for any professional advice and alltogether special service if you look into the matter on your own then surely it will boost your confidence and henceforth you will deal with these kind of situations more confidently in coming future.
but again you can still take help of professional advisory bodies in order to minimise the time frame but it will surely have toll on your pocket.
so take the decision wisely.
keep in touch...... :arrow: :arrow: :arrow:
welcome to mortgagefit.
It appears from your information that you are very truthful person.but I will advice you that instead of going for any professional advice and alltogether special service if you look into the matter on your own then surely it will boost your confidence and henceforth you will deal with these kind of situations more confidently in coming future.
but again you can still take help of professional advisory bodies in order to minimise the time frame but it will surely have toll on your pocket.
so take the decision wisely.
keep in touch...... :arrow: :arrow: :arrow:
Hi realreality,
In my opinion, it is always better to contact your lender and apply for a loan modification rather than consulting a third party. The third party will charge you a lump sum amount as fees for going through your papers and advising you. On the other hand, the lender will charge you fees only if your loan modification offer is accepted.
Thanks
In my opinion, it is always better to contact your lender and apply for a loan modification rather than consulting a third party. The third party will charge you a lump sum amount as fees for going through your papers and advising you. On the other hand, the lender will charge you fees only if your loan modification offer is accepted.
Thanks
Thank-you for your replies. I have to do the research myself. Just takes patience and common sense.
better convert it into fixed interest rate 30 yr duration. apply for mortgage refinance & speak to lender. there is no need to go to 3rd party & waste your money.
"small fee" is laughable. there is no private company that will charge a small fee - look around. you are well-advised to check out the counseling agencies listed on the hud.gov website, as they will happily try to assist you for FREE. yes, i did say "free." check it out, please. for-profit third party vendors are just that: for profit (their own, not yours). that's not to say they can't get anything accomplished; but you'll pay dearly for that assistance.
