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are there fees attached to a loan modification

if so please list or refer me to a source. thank u by nolan_robert08734434 from Winooski, Vermont. Mar 26th 2014 Reply


Harry Newell (harrynewell)
#27 ranked lender in Kansas - 17 contributions

Your current lender or servicer is the best source to answer your question. Your loan will remain with them.

Mar 26th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

That's a trick question.. The Government agency that over see's mortgage loan lending (CFPB) has rules in place that mandate that loan consultant must be licensed as a mortgage loan originator. Also, they are not allowed to charge anything upfront.. as far as which fees can be charged if your loan modification is successful, and how much they can charge, that's hard to answer.. I don't believe there are any rules limiting how much can be charged.. If your going through your original servicer, they might charge a fee, and it should be lower than if you use an independent company... but independent companies can charge what ever they wish.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 26th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Most likely there will be fees, the best source will be the current loan servicing agent handling your loan as their may be different fees from different servicers.

Mar 26th 2014
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