Should I make any payments during a loan modification review?

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I hear different answers, some say dont make any mortgage payments because it will not get applied correctly.

1 Comment
  1. Reply
    Realtoratheart
    May 1, 2011 at 6:20 am

    Look you want that loan mod? Then make the payments. Give them any reason to foreclose (and not making payments will do that ) then you’ll ruin your chances at the mod.

    I had one loan officer tell a couple not to make their payments, that he would get them a refinance to lower rate… They lost the house to foreclosure. Because they couldn’t prove the loan officer told them that.

    Every time you miss a payment, you take a credit score hit. A loan mod is going to have a similar impact, but a foreclosure will assure you of not getting a mortgage for 7-10 years. You choose.

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