In many instances, homeowners who need a loan modification also have other debts burdening them and file bankruptcy as well.  Bankruptcy and loan modification have become a pretty common combination for a complete financial fresh start. There are two types of bankruptcy most commonly filed by homeowners, chapter 7 and chapter 13. The numbers refer read more »

Non-owner occupied property has historically been part of a good diversified investment portfolio. With home prices declining however, many investors are looking to loan modification on non-owner occupied property as a way to salvage these investments. Federal Loan Modification on Non-Owner Occupied Property Most federal loan modification programs don’t apply to non-owner occupied properties or read more »

With the difficult economy and housing prices way down, many people ask me “how to do a loan modification?” or ask about applying for a loan modification. It’s not an easy question to answer quickly.  How to do a Loan modification, as many people would have you believe, is not a matter of simply filling read more »

Many borrowers asking: “how do I apply for a home loan modification?” have no doubt heard about their options to avoid foreclosure.  Words like “short sale”, “deed in lieu”, and “loan modification” have become household terms for struggling borrowers across the country.  In most cases, a loan modification will be the borrower’s first option since read more »

As a loan modification attorney, many homeowners ask me, “Does a loan modification affect your credit score or hurt your credit?“  The answer generally is that the loan modification itself is not terribly detrimental, however the necessary late payments leading up to the loan modification can affect your credit score. So, Does a loan modification read more »

There are several ways in which a loan modification can lower monthly mortgage payments.  A loan modification is an agreement between borrower and lender to change the original terms of a mortgage contract.  In most cases, the loan modification is awarded to borrowers facing foreclosure, and the loan modification is intended to help the borrower read more »