Mortgage Modification Agreement Maine Form
Description
How to fill out Maine Loan Modification Agreement To The Mortgage?
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FAQ
You can only get a loan modification through your current lender because they must approve the terms. Some of the things a modification may adjust include: Loan term changes: If you're having trouble making your monthly payments, you may be able to modify your loan and extend your term.
When you've successfully completed your trial modification payments, your mortgage loan servicer will send you a loan modification agreement. That agreement needs to be signed by you, stamped and signed by a notary, and sent back to your servicer.
The loan modification process can be complicated and difficult. Most homeowners are denied a few times before they are finally approved. Often, the denials are legitimate--because the process is confusing, many homeowners don't do it correctly.
Fannie Mae will execute the mortgage loan modification agreement and return it to the servicer, regardless of whether the executed mortgage loan modification agreement needs to be recorded. Note: If the mortgage loan modification agreement needs to be recorded, the servicer must submit it for recordation.
Contact your servicerContact your lender or servicer and ask for a loan modification. If you're denied, you have 14 days after the denial date to ask for a review of your application, but only if you applied for the modification at least three months before the foreclosure sale of your home.