Should you attempt a Loan Modification for your Downey Home?
In a previous post we discussed the HAFA program and how it can help you with your Downey distressed home.
Now let’s discuss the realities of attempting a loan modification. The Obama Program, or HAMP, was supposed to help millions of homeowners keep their home. Sadly this has not been the case.
Just a few notes before you see the video:
Did you know that if your Downey Home has already received a Notice of Trustee Sale, and it was postponed because you applied for a loan modification for example – the bank can simply sell the home without sending another notice? That’s why you must keep in contact with your bank.
Banks perform a financial analysis to see what makes more financial sense: Loan modification, approve a short sale, or foreclose on the home. Should you perform a similar analysis for yourself and your Downey Loan?
Let’s see Patty Kelly and what she has to say:
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