Loan modification
Question Details:
If I am in a 3 month trial period for a loan modification and in good faith have made the first 2 payments. Can the mortgage company rescind the agreement before the trial period is over; and raise my mortgage to nearly twice the amount I've paid in the last 2 months?
Real Estate Law Answers
You should obtain legal assistance with your loan modification. Be careful with the many non-attorney groups that are advertising their services, without any oversight.
Contact my office if you need professional guidance with your loan modification
Robert Spitz
909 395 0909
I am a lawyer in CT and practice in the area of the law. The 3 month trial period is based on a contract. if the bank has agreed to a modification of the contract, it cannot change the terms of the contract until the 3 months are up at the very earliest. Once the trial period is up, the bank may charge you based on the modification documents. I would need to see what you agreed to and determine what the bank may charge you after the trial period ends.
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