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New Here...Preliminary question.

This is a topic titled New Here...Preliminary question. made in the Home Mortgage section, belongs to our Mortgage Chat category; First let me say *WOW* this is one great site. I have just began my research as my loan is due to reset in 3 months. There is no way ...








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Old July 15th, 2008, 09:21 AM   #1
Joel Fraser
Senior Member
 
Registered: May 2008
Posts: 907
Default New Here...Preliminary question.

First let me say *WOW* this is one great site. I have just began my research as my loan is due to reset in 3 months. There is no way I can afford the new payments. That being said, I want to be in the best position when that day arrives. When I first googled "loan modification", the Dept. of HUD was prominent at the top. In that site I see that there are requirements for a loan mod like 12 months from origination and at least 62 months behind. Is this true? Are all loans subject to these requirements? My reading on this site suggest that maybe not. Anyone set me straight on this. Thanks. Stuck
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