loan modification

Short Sales: What If I Already Tried To Modify My Mortgage Loan?

Are you eligible to apply for a short sale even if you’ve already tried to modify your mortgage loan? Your effort as a borrower to short sell your property should never appear to be a strategic default to your lender. A strategic default is a decision by a borrower to stop making payments on a debt despite having the financial ability to make the payments. Banks don’t like to approve short sale applications when it looks like a borrower can pay but simply chooses not to pay.

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