What should you do when you receive a notice that your loan modification trial period will soon be expiring?
Most people will ignore the warning which is the WORST thing to do. This is not the time to be idle, but the time to be proactive!
Some of the loan modifications will have a gradual escalation for several years and will top off at your previous interest rate. This may have sounded good at the time you started the loan modification, but making higher payments each month does not sound good now that the time is near!
If your lifestyle has not changed and your income has not increased since you started the loan modification, you may not be able to make the higher payments. So, what should you do?
First call The Drefs Team at 623-694-0354 to see if you have any equity in your home. Then have The Drefs Team review your options with you. They can help you make an action plan so that you are in control and not at the mercy of the lenders.
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