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Updated over 3 years ago on . Most recent reply

Peter Halliday's profile image
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Peter Halliday
  • Rental Property Investor
  • from Arlington Heights, IL
  • Member since May 9, 2017

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Peter Halliday's profile image
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Peter Halliday
  • Rental Property Investor
  • from Arlington Heights, IL
  • Member since May 9, 2017
Peter Halliday
  • Rental Property Investor
  • Arlington Heights, IL
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Tax Liens & Mortgage Notes

Loan modification strategies

Peter Halliday
  • Rental Property Investor
  • Arlington Heights, IL
Posted

I have two months left in a forbearance plan and am starting to think of how I want to modify the loan. I’m curious what people favorite things to offer. 

I’m hoping to end up with a slightly higher payment.  Offering lowering interest rate.  The person temporarily list their job due to COVID but has since regained it.  

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Chris Seveney
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Chris Seveney
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  • Virginia
ModeratorReplied

@Peter Halliday

Be careful with mods with higher payments as it can be considered a new loan and require you to qualify the borrowers ability to repay.

  • Chris Seveney
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