
Who made a loan before the change?
I have a mortgage of 8.65%. I have bad credit, but a lady a company of mortgages, said it can help me work with my bank to change my loan. It is not asking for money until it is. I am also two months behind on my mortgage, she said I think I can help. I must try, and how good? She also told me that I have not had good credit for this modifaction.
The answer is yes, try the modified loan. Do not worry about your credit … should not drastically effect a rating for a loan mod. But people who modify loans can do anything, drop your interest rate, drop what you need, all the way or eliminate your second mortgage. By the way, I would not at least at first. Sure to trust people who try to modify the loan to you. I hope this has helped, and hopefully I can get back on track financially.
Diana Olick Mortgage Loan Modification Companies: Saviors Or Scams?