Even if you’ve received a denied loan modification, the decision may not be final. In many cases, homeowners can submit a loan modification appeal to have their application reviewed and reconsidered for approval. In this article, we’ll talk through what happens if your loan modification is denied, and how to appeal a loan modification denial…
If you’ve fallen behind on your mortgage payments, you may have already reached out to your lender for a loan modification, forbearance, or repayment plan to help you prevent foreclosure. While your request is under review, lenders are legally required to stop the foreclosure process. Moving forward with foreclosure while reviewing loan modifications or other…
Serving in the U.S. military is an important and often dangerous job. To recognize that sacrifice, servicemembers and their families are entitled to important legal and financial protections, especially during active duty. In 2003, the Servicemembers Civil Relief Act (SCRA) was passed to update and expand protections for servicemembers. The protections under SCRA focus on…
Loan modifications can be a great option to avoid foreclosure if you are struggling to make your payments. Even if you qualify for a loan modification and your application is approved, the loan modification process isn’t over yet. Before your loan modification can be officially applied to your mortgage, you must complete a trial payment…
Loan modifications can be a great option for homeowners struggling with staying up-to-date on monthly mortgage payments. In order to qualify for a loan modifcation, you’ll need to first gather the appropriate documentation and paperwork. If you’re wondering if you can get a loan modification without income documentation, you’ll find it depends on a lot…
Are you a homeowner struggling to keep up with your mortgage payments and worried you might be facing foreclosure? The good news is you may have resources available to help you delay or stop foreclosure altogether with a loan modification. Before you choose your course of action for foreclosure avoidance, it’s important that you thoroughly…
Don’t let yourself be rushed into modifying your loan. Although loan modifications are a powerful tool for resolving a very stressful situation, you shouldn’t jump into one lightly, or because someone is promising it’ll solve all your problems without doing your own research. There is an entire industry of loan modification companies. Most of these…
Navigating mortgage modifications and struggling to make mortgage payments can be difficult. As a homeowner, it can be difficult to understand your options if you’ve had a loan modification and are struggling to make your monthly mortgage payments. If you’ve had a loan modification, it’s understandable that you may be wondering about your refinance options….
Veterans Affairs (VA) loans have specific guidelines about loss mitigation and loan modifications that differentiate them from traditional loans. Unfortunately, it’s common for VA home loan modification guidelines to say one thing about loan modification implementation and for servicers to implement a different process or loan modification. Navigating the VA loan modification process can be…
Loan modifications are designed to help make your mortgage payments more manageable for your financial situation. It’s understandable that unexpected financial burdens might make your loan modification unaffordable for a period of time. If you’ve defaulted on your loan modification or are at risk of falling behind on payments, there are options that can help…