Foreclosure Property Appraisals and Home Appraisers Information
McLean & Associates, Inc
appraisal and real estate consulting
Toll Free: 866-775-3395 Palm Beach: 561-674-0498 Cell Line: 954-415-1630 Fax Line: 561-892-0913
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www.FastFloridaAppraisals.com - Michael W. Bode - McLean & Associates, Inc.
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FLORIDA HOMEOWNERS AVOID FORECLOSURE! Search by your
county or city location for Loan Modification Programs Here At This LInk!
Notice of Default is usually sent after 90 days of the you have received a notice of default (NOD). Notice
of Default is usually sent after 90 days of the mortgage payment being late.
extension of the length of the term of the loan, a different type of loan or any
extension of the length of the term of the loan, a different type of loan or any
combination of the three. A lender might be open to modifying a loan
because the cost of doing so is less than the cost of default.
because the cost of doing so is less than the cost of default.
A loan modification agreement is different from a forbearance agreement. A
forbearance agreement provides short-term relief for borrowers who have
temporary financial problems, while a loan modification agreement is a
long-term solution for borrowers who will never be able to repay an existing
loan.