Loan Modification Denied
Most homeowners consider a loan modification in attempts to stop a foreclosure.
However, what happens when a loan modification gets denied??
The home will still be foreclosed on.
A foreclosure stays on a homeowners credit report for 7 years!
3 Things You Should Know About A Loan Modification
What is a loan modification?
A modification to an existing loan made by a lender in response to a borrower’s long-term inability to repay the loan. Loan modifications typically involve a reduction in the interest rate on the loan, an extension of the length of the term of the loan, a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so is less than the cost of default.
Would you like to “sell your property and prevent a foreclosure” if a loan modification was denied?
For speedy assistance to sell a property that was denied a loan modification, please contact Ultisky Real Estate Holdings, LLC at (470) 362-7887. Hurry time is not on your side if you facing foreclosure.