I work in the construction industry and is having a very difficult time paying my mortgage. It’s on the market but no buyers and we’re thinking of putting it for rent at the same time.If it gets rented, can I still qualify for a loan modification?
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Tags: Construction Industry, Dwelling, Family, Loan, Loan Modification, Loan Mortgage, Modification, Mortgage, Qualified, Rent, Rented, Single, Single Family Dwelling
4 Responses to “Are Rented Single Family Dwelling Qualified For Loan Mortgage Modification?”
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Filled Under: Mortgage Loan Modification
November 24th, 2009 at 2:41 am
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November 24th, 2009 at 2:50 am
If you decide to move out of your home, and use this home as an investment property then you might not be eligible for the loan modification as this is primarily for home owners and not investment properties.
If you have placed the property up for sale and have not moved out of the property then you could still be entitled to a loan modification. If you think you are qualified for a loan modification then you should contact your mortgage company.
There are some companies that will assist you in completing your loan modification documents. You may chose to use one of these companies, but it is not necessary since your mortgage company would assist you in the completion of your documents.
I hope this has been of some use to you, good luck.
“FIGHT ON”
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November 24th, 2009 at 3:36 am
Hello Everybody,
I am Mr,William Justin a private lender that has been approve by the Government and has been giving out loans for the past 15yrs,i give out loans at a low interest rate of 2% and my loans are guarantee to your bank account within 48hrs of banking upon accepting to transfer the loan to you,you can contact me via williamjustinloancompany@yahoo.com
We look forward to be of a good service and a good business partners to you,hurry now to get your long desire achieved.
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November 24th, 2009 at 4:02 am
No, investment property is not subject to modification. Modification is only for your primary residency, you have to live in the home.
A short sale is your best option.
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