As I speak with people every day, I am hearing a question being asked more often than I can remember in the past:
“Can I get a loan modification if I am current on my payments?”
The answer?
It depends.
I think that it is probably safe to say that most lenders are currently not modifying your loan if you are current on your payments. Now that I have said that, I am sure that there are examples where people have been able to get their loan modified and never have to miss a payment.
From what I can gather, one key to getting a loan modification done is to keep trying – even after the lender has told you no. The other key to getting a loan modification done is to find and hire a reputable loan modification attorney who can help you negotiate a loan modification with your lender.
Do you have to hire a loan modification attorney to get a loan modification done?
No.
But from what I can tell, it seems like it helps your chances of getting a loan modification done.
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