Phoenix Loan Modification Questions: What About The Hardship?

What type of hardship do I need to be facing to qualify for a loan modification?

This is a pretty common question. Hardships, and their severity, can vary greatly. The most common are health, wealth, and family needs.

• Health

- Family member gets sick, medical bills, can’t work because of medical issue, etc.

• Wealth
  - Laid off from work, loss of roommate, interest rate is resetting, balloon payment is due, reduction of hours at work, etc.
• Family Needs
  - Birth, death, divorce, etc.

There are MANY hardships out there. If something has happened since you got the loan that changes your financial position for the worse, it is probably a hardship.

If you are facing a hardship, give us a call. We can help you see if you qualify for a loan modification and what that might mean for you and your family. (480) 389-5199