Question: I hired an attorney to apply for a loan modification. All the paperwork has been turned in and I was informed that the bank has accedpted my financials and that this was GREAT NEWS. It has been a month since then, I was wondering if this looks like they are just finishing up the paperwork for the loan?

Answers

Posted By: RightTrack Financial Services on Jan 28, 2010 12:43PM

A: In general the process of a modification take between 2-6 months. I would call your lender and see if the information your attorney has provided you matches up with what the bank tells you over the phone. If it does, great, be patient. If it doesn't then ask your lawyer why there is a discrepancy in the information.