The Department of Financial Regulations is cracking down on Loan Modifications and Short Sales in Florida.

You would be needing to do a loan modification if you intended to keep it.

If it's a large lender, fannie etc...the owner strated too late, you could apply for the modification and then a short sale, but better hurry!

Rest assured the lender will not offer you a loan modification or a short sale.

The whole loan modification and workout process is for those who want to stay in their homes.

I did so and I was offered a loan modification the loan would be dropped from 187,000 to 157,000 and I would get 3% for 5 yrs, 4% for 1 yr and 4.8% for the remaining. loan of 35 yrs.

You need to get an idea of what that property is worth now, and what it will be worth subject to the modifications that you intend to make.

And I am thinking of asking for a modification on it to get them to fix it for a nice low rate.My monthly payments are around $2500/mo depending on the variable rate at the time.....Can you offer a few different ideas on how to structure this so they can move in and I can stop stressing over it?

Hi I am involved with a company that builds steel framed homes and I also help homeowners with loan modifications.

Ask about modifications.