How do I get a loan modification on my mortgage? Who do I contact to get a loan modification? Do I have to pay to get a loan modification or is it free?
If you need to get a loan modification on your mortgage you can contact your mortgage lender directly for the appropriate paperwork. All of the mortgage companies are required to currently offer this option to their borrowers. You may even be able to get the loan modification paperwork from the company website. If you have a federally backed mortgage you will need to contact FHA/HUD or Veterans Affairs for the appropriate paperwork required for their loans.
Who do I contact for a loan modification?
When seeking a loan modification you should contact the loan officer of the institution that you have your mortgage with. Many times you can visit the website of the mortgage holder and download an
application directly from there. If you have a loan with a government office you will need to contact them directly. Many independent lending companies have a standard packet that they use for the modification and can be obtained by doing a search for it online. Because each lender may have specific qualifications for getting a modification your best bet would be to get the packet directly from the lender.
Do I have to pay to get a loan modification or is it free?
You do not have to pay to get a loan modification. You can obtain the loan modification paperwork directly from the lender. If you feel that you are unable to complete the paperwork properly you can chose to pay a company to process your modification paperwork. But, remember, you do not have to pay to apply for a loan modification if you request and prepare the paperwork yourself.