Z Cherry Blog

Your bank will never tell you this about loan modification

March 15th, 2009

The thing about the banks in today’s economic climate that they would rather not have you know instead they are actually desperate for their customers to call them and try and do a loan modification. They don’t want you to know this because then they think that you would probably try and take advantage of them. But here’s the thing, it’s a lot more costly when one of their customers defaults on a mortgage and goes into foreclosure than it is for them to simply work with the borrower to lower their monthly payment. It surely does become something that benefits everyone.

Entry Filed under: Business