2007-05-30 11:59:28 · 3 answers · asked by just a girl 2 in Business & Finance ➔ Personal Finance
Different states have different requirements. Home loans are set for the duration of the loan, to change the rate, terms etc you would need to refinance, unless you are behind on your payments, then you can call them and ask for a forebearance agreement. They will ask you to fill out some paperwork, which will include proof of income, why you became behind and have you resolved the situation where you won't get behind again. Most lenders these days are more than happy to negotiate, they don't want the house back. good luck
2007-05-30 12:06:44 · answer #1 · answered by superloanlady 2 · 0⤊ 0⤋
You don't need an attorney. The terms for a modification are as standardized as those for the original mortgage. The bank already has a fill in the blank form to handle this situation. Consulting a financial counselor to determine if a loan modification is your best option may be in order, but the attorney would be a waste of money.
2007-05-30 13:50:14 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
You are in way over your head. A mortgage does not get modified or rewritten. It can only get paid off or refinanced. That's it, no other choices besides those two and foreclosure.
2007-05-30 12:57:52 · answer #3 · answered by Anonymous · 0⤊ 2⤋