rive_gauche79 asked:


My mother died in April, leaving a home with a mortgage. I am her only child, and have been unable to pay her mortgage; it has gone unpaid for four months. I just received rights as Administrator of her estate, and will now be able to communicate with the mortgage company regarding the home. I do not want to lose the home or sell it now. I would like a loan modification, so I can rent it out, and sell it later when the market has improved. Do mortgage companies grant loan modifications under these circumstances?

Justin

toohotnky asked:


I am in the process of negotiating a loan modification for our mortgage. Is it always this hard? Do you really have to negotiate constantly with the mortgage company? It seems like its never going to end.

Kelly

leighlababy2002 asked:


Hello,

Does anyone know what the procedure is for a loan modification in New York State? Is there a certain amount of income that you have to make to qualify? Just what are the guidelines for a loan modification & are there reasons why someone would be turned down? Also, is it better to try a work out a modification with my current mortgage company or should I seek out another lender?

Lois

molly asked:


I am trying to buy a corner lot with a brand new two car garage and a 14×74 1977 Century mobile home. The property also has a brand new two car garage. It has been a second home to a retired couple and they have taken great care of the place. Every season this home has been serviced and while they are gone a local man takes care of the property for them. Its probably been better maintained than most stick homes in the area. They put in two new decks, new roof, insulated windows, air conditioning, plumbing, fixtures, and carpeting in the last six years. Not one bank or mortgage company can give me a name or number for someone who handles these types of loans. I have just sold my stick home in a nearby town. My credit is great and I have the 25% down. Any advice is hugely appreciated.

Shane