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I have defaulted on my mortgage. The total loan amount is nearly $75,000. So far, I have made the payments on time. My credit is also good. However, I can't afford to make the payments anymore. This is why I approached a mortgage modification firm last week. But that company is charging a huge advance fee. I can't afford to pay this fee. What should I do now?

It is always better to contact your lender and apply for a loan modification rather than taking help of a third party loan modification company. Your lender won't be able to charge you any upfront fees. You should contact your lender and inform him about your financial situation and request him to consider your request for loan modification. You can write a hardship letter to the lender for the same.

Sub: #1 posted on Tue, 02/22/2011 - 01:49

Anna Sweeting Anna Sweeting

(Posts: 1827 | Credits: )

anybody that charges upfront for this is a anna advised go through your mortgage provider for a modification.

Sub: #2 posted on Tue, 02/22/2011 - 05:30

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15514 | Credits: )

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