What is Loan Modification?
A loan modification is where a loan's payment plan is changed, due to the hardship of the borrower (homeowner).
This usually may include changes to the rate, the term and the monthly payment amounts.
The purpose is to Help the HOMEOWNER STAY in their home at an AFFORDABLE mortgage payment.
Getting a Loan Modification negociated, processed and approved (restructured) is not a short process.
It REQUIRES time, effort, patience and complete honesty and cooperation of you the borrower and the lender.
You MUST be able to prove to your lender that you can and will be able to make your new "modified" mortgage payment.
If you can't or won't be able to make them, you may want to consider doing a short sale on the home.
More about Las Vegas Loan Modification
Feel free to email or call me if you have any questions.
Dawn Barrier EXP REALTY Las Vegas (702) 812-4550
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