How many times can you do a loan modification?
I've done a loan modification in 2008. Is it possible to do another to keep the same interest rate?
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Answer by Pitsrotty
Yes. It depends on the lender. My lender said 12 months. My ARM adjusted to its scheduled, increased interest rate in Feb 2008. I called in December of 2008 for a loan modification, they told me to call back in Feb 2009 that my new adjusted rate was considered a loan modification and I had to wait 12 months before re-applying.
Hope this helps
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Sixth War Loan
Image by CT State Library
An unidentified woman holds a sign at a Sixth War Loan event. The two signs read ""Pearl Harbor Day Have You Bought Yor Bond"" and ""Congratulations AAF Supply Over the Top 107%.""
Date Created: 1944-11-20-12-16
Contributor: U.S. Army Air Corps
Source: Connecticut State Library, State Archives, PG 048
Format Medium: black-and-white photographs
Format Extent: 5 x 4 in.
Type: Image
Format: jpeg
Orignal From: How many times can you do a loan modification? and Sixth War Loan
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