Getting Loan Modification Advice

Where do I go for loan modification advice?

1 Answer

There are a variety of resources you can explore for finding the best loan modification advice.

First, you will want to understand a little more about your loan. Using your monthly mortgage statement, gather the terms and conditions of your loan (e.g. Years / Interest Rate / Fixed), and have these with you when doing your research.

Next, you will want to find who the investor is on your note. Oftentimes, the bank on your mortgage statement is a mortgage servicer, and they are servicing your payments for someone else (e.g. Fannie Mae, Freddie Mac).

Once you have located the investor, you can begin research their websites for **loan modification options **pertaining to your loan. If you have trouble finding your answers, there are many non-profit companies who will provide valuable advice and you can find them by searching for non-profit loan modification companies on the internet.

There are strong, reliable for-profit companies, which can provide you with advice for loan modifications, but they typically are more centered around executing the modification for you as opposed to simply providing advice.