The Real Deal Miami

Loan modification 101

August 31, 2009 12:36PM

It’s no simple task to modify a home loan, but it can and sometimes must be done. South Florida experts offer some tips on how to pursue a loan modification, such as demonstrating the ability to make some type of payment even if a homeowner is unemployed, what to expect in terms of payment reductions and how to navigate the complex and often frustrating process. A call to the loss mitigation department of your bank can begin the process.