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Loan Modification Process
How The Loan Modification Process Works... is it Right For You?
Please reveiw the steps below to see if the lender loan modification program is right for your situation.
- The first step is the lender consultation. Simply call the lender and one of their specialists will contact you within a short period of time to discuss your situation.
- After your initial conversation, they will be able to determine if you fit within the parameters for their loan modification program. During this initial consultation, you will be asked a variety of questions, make sure and answer them truthfully and candidly as this will only benefit your overall situation.
- If they unilaterally determine that you fit within their program, then they will send a Loan Modification Program Agreement.
- In conjunction with the Loan Modification Program Agreement, they should send you the Loan Modification Financial Worksheet. These documents will address detailed aspects of your current and past financial history. Normally, their loan modification specialists will work with you to complete these documents.
- Once your documents are submitted to them, they will begin communication with you and review your package in more detail. The process generally takes between 60-120 days to complete.
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916-786-SOLD (7653)