Looks like those most loan modifications are not really loan modifications and causing payments to be higher for clients. This great article by USA today explains!
If you are interested in learning more about whether a loan modification makes sense or at least get some FREE resources to have your situation analyzed go to:
| Free Loan Modification Info |
Your friend, Carlos Samaniego,CMPS |
By Stephanie Armour, USA TODAY
Tens of thousands of financially strapped
homeowners who have asked lenders to lower their mortgage payments are
instead winding up with higher monthly payments and larger debts on
their homes.
Homeowners who were hoping for lower payments are discovering to their dismay that lenders roll late fees, back taxes or other costs into the principal, sometimes turning a difficult payment into an impossible one. That is one reason that many reworked mortgages are sliding back into default.
