Tag Archives: loan modification

The ABCs of Commercial Loan Modification

Before we jump into the meat of this article, let me give you a quick and dirty definition of a commercial loan modification. Definition: A modification to terms of a commercial loan that does not include refinancing. Modification occurs on a case-by-case basis when the borrower is unable to make loan payments due to financial [...]

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How to Not Come Across as a Scammer in Loan Modifications

The promise of a loan modification may bring relief to troubled homeowners. But the process can seem daunting or impossible. As a result, many people will hire someone to handle modification. Yet, these stories do not always end well. In recent years, there have been a host of companies and individuals posing as loan modification [...]

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What Is a Commercial Loan Modification?

A commercial loan modification, also called a Workout Loan, may be considered if a business is in financial distress and unable to pay back a loan. In order to understand what Commercial Loan Modification means, let’s break down each word and define it: Commercial: Related to business. We are only concerned with loans taken out [...]

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Dos and Don’ts of Working Short Sales & Loan Modifications

Mars is the second closest and only red planet near Earth. It’s also the name of a program real estate investors need to know about – Mortgage Assistance Relief Services. It’s one more requirement from the Federal Trade Commission to protect consumers. And, if you’re a real estate investor, it’s important to help protect consumers [...]

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Details of the Obama Loan Modification Plan

Here’s the official summary of the Obama Loan Modification plan. Also known as the Homeowner Affordability and Stability Plan. As usual, NO relief for investors or as they put it, “no aid for speculators”, but it’s something to be aware of if you’re investing in foreclosures, doing loan modifications or if your primary residence is [...]

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