Refinancing, the Mortgage Crunch, and a Federal Housing Bill
Mortgage Loans
Loan Modifications Exposed - Considering a Loan Mod? Educate Yourself First
If you have been financially crushed because of a big jump in your monthly mortgage payments or a big jump in your principal balance, you should call and ask your lender to explain the charges. Make sure to keep written records of first and last names as well as the dates when you talk to your lender. If you are getting nowhere with the phone calls, you may be considering a loan modification. Who do loan modifications really help, the borrower or the bank? The answer is, “Both—hopefully.”
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