There is a lot of buzz about Loan Modifications and what people can expect.  Here are the basics:

1. Expect them to take 60 to 90 days to receive a Yes or No answer.
2. It is generally better to work directly with your lender than a fee based service.
3. Know that only 5% to 10% of applications for Loan Modifications are being approved.
4. Explore all of your options, short sale, refi are deeding the property back to the bank prior to foreclosure.
Please let us know if we can answer any questions for you.

Best regards,

Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure, Short Sale & Investment Specialists,
Development Opportunities & Traditional Real Estate

This entry was posted on Tuesday, April 14th, 2009 at 6:35 pm and is filed under Government Real Estate Information, Real Estate Lending, Real Estate News, Financing. You can subscribe via RSS 2.0 feed to this post's comments. You can skip to the end and leave a response. Pinging is currently not allowed.