Phoenix Loan Modification Questions: What Happens With My Late Payments?

I am currently behind with my mortgage payments, what happens with that balance?

This is a fairly common question. You owe the bank $7500 in back payments, what happens if you get a loan modification? Basically, the bank will agree to push the past due amount to the balance of the loan. So if you have a principal balance of $250,000 and are behind by $7500, after you do the loan modification your loan balance would be $257,500.

If you are behind on your payments, please don’t hesitate to give us a call. When we do a loan modification, you see results that will astound you. (480) 389-5199