Trial Loan Modification For 11 Months And Repayment Plan
We have been in a trial modification for over than 9 months. Yesterday I received a letter from Chase with a repayment plan which is not help. Mortgage Loan Modification Answer:by Loan Modification Expert - Dan NorthThe first question to ask yourself is "Can you afford the modified payment Chase is offering you now?"If your mortgage interest rate currently is more than 5.250% this is a loan modification that sounds good. The bottom line is can you afford to make the payments for the next year? If you know that your income will be reduced and know how much it will be reduced you can counter offer with the what your future gross income will be and ask that Chase make the modification based on that. That would lower your payment and may also extend the length of your loan. NOTE: There is the possibility that with another reduction in income Chase may no longer approve a modification. With that in mind you have to decided if what Chase is offering right now is affordable even with the threatened income reduction. If you can not afford that payment, with the next income reduction, then you have no choice and do need to make a counter offer to lower the mortgage payment to an affordable amount. You have done pretty well on getting a modification on your own so far but if you want some help in hiring a professional negotiator to get the modification you really need then contact me. If you just want some more help so you can do it yourself get this Do It Yourself Loan modification Kit. This is a kit I highly recommend. If you need something in between the two above options contact me and I can provide some other options. Return to top of Trial Loan Modification For 11 Months And Repayment Plan Click here to post comments. Ask Your Own Mortgage Loan Modification Questions Find out if you qualify for Hardship Loan Modification No charge to find out if you qualify and what modification you qualify for. See more Mortgage Loan Modification questions and answers like - Trial Loan Modification For 11 Months And Repayment Plan Where To Go From Here With PNC / National City Can Chase Still Foreclose While In A Trial Modification? Bank Of America Trial Loan Modification Offered But Payments Increased Should I Stop Paying My BOA Mortgage If Turned Down By Bank Of America for Loan Modification? Citi Bank Said I Qualify For Loan Modification, Can I Ask For Reduced Interest Rate? Chase Loan Modification Agreement Increases My Payment By $1300 I Requested Loan Modification But Chase Increased My Monthly Payment Loan Modification Home | Mortgage Modifications | Loan Modification calculator
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