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What would be the things that could keep you from getting a loan modification?

Wisen Smart asked:

I have heard a lot about this loan modification and have been receiving not so clear answers to my question. I presently have a tax lien on my home, 2 months behind in my mortgage, make the same salary as when I bought the home 2 years ago. Do I qualify?
Asked on: 2011-05-15 12:17:26


  1. Sweet Pea says:

    credit score….

  2. TheMom says:

    Mostly people prevent themselves. If the modification will not prevent foreclosure it is not happening.

    There is the other problem of your income not changing, you obviously planned to default, otherwise you need to provide documentation on why you defaulted, massive medical bills are a common reason.

  3. Leo F says:

    Credit score, late payments and behind on payments

  4. mad says:

    if the loan co is going to lose money if they foreclose and you can make the payments they should offer you a modification. they already know your credit is most likely bad. call them dont let it get to far behind they most likely dont want another house they cant sell suck it up and call i know you dont want to it is hard but if u dont try you will lose your home.

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