LOAN MODIFICATION FOR A.R.M.

Deal Score0

my mortgage has an adjustable rate. its about to mature and my payments are going up $ 700 per month. what is loan modification? do i have to be in foreclosure before the bank modifies my loan? i’m a disabled veteran and my income supports the mortgae payments . i’ve NEVER been late on a mortgage payment for the entire time i’ve had the home. does anyone know of any resources wher i can get help? VA or otherwise? i really don’t want to lose my home. i have alot of people depending on me.
so far i’ve gotten positive feedback….but no one has answered my questions yet: must i be in foreclosure before my current mortgage company modifies my loan? also, i need to know what conditions govern loan modification. my loan is not a va loan but i still have that loan available to me. (somewhere in the neighborhood of
$ 457,000) i was thinking about going to the dept. of veterans affairs to see what, if any, options i may have concerning my loan and my veteran status. i really need legitamate help…. not someone trying to make a fast buck off of me.

3 Comments
  1. Reply
    FRANK Mortgage Broker
    January 21, 2011 at 6:50 am

    You can refinance. Is your current loan a VA loan?

    NO, you do not need to be in foreclosure to get modification of mortgage, or to refinance. It is better to begin the process now, so that you can settle when the rate is going to change.

  2. Reply
    Thomas J
    January 21, 2011 at 6:56 am

    My brother was in the same situation, he modified his loan through the american modification agency, got him into a fix and saved him from loosing his home by saving him money on his monthly payments. Call Dave (516)506-4755 or email DShevlin@YourAMA.com

  3. Reply
    Ms M
    January 21, 2011 at 7:27 am

    There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first. Try http://www.speedyrealestate.info. Good luck!

    Leave a reply

    Register New Account
    Reset Password