Mortgage Modification Timeline
As the economy continues to struggle, more and more people across the country are facing financial difficulty and having a hard time making their mortgage payments. If you are having trouble paying your mortgage every month, you may be at risk of foreclosure. Fortunately, you have options for protecting your home. One of the most desirable of these options may be mortgage modification. While each mortgage modification case is unique, most of them have similar timelines.
You don’t have to face this difficult time by yourself. If you or a loved one is struggling to make your monthly mortgage payment, it is important to know you can still take action to preserve your home. For more information about what mortgage modification can do for you, contact the Boca Raton foreclosure defense attorneys of Eric N. Klein & Associates, P.A., today at 561-353-2800.
The Timeline
Most mortgage modification cases follows these basic steps and time frames:
- Request for mortgage modification – this step typically takes several days
- Reviewing your request – within 30 days of receiving a request for mortgage modification, your lender will review your request
- Testing period – if approved, you will then face a three-month trial period to make sure you can start making your new mortgage payment
- Finalizing the agreement – the final review takes up to 30 days to complete
These time frames are only a reference. Every case is unique, so the timing may vary depending on the details of your request.
Contact Us
Facing foreclosure can be a very difficult time in your life. To discuss your options with a caring and experienced legal representative, contact the Boca Raton foreclosure defense lawyers of Eric N. Klein & Associates, P.A., at 561-353-2800 today.
