Should we continue making mortgage payments even though loan mod pending?
We have already signed and sent back in the loan mod paperwork sent from the firm handling our account, but my question is this do we continue to make our regular monthly payments on the loan until the new payment amount takes effect? The papers we signed is the agreement for the modified loan with figures and due date assigned. Thank you in advance for your answer. by peterjacobs from Tustin, California. Aug 19th 2009
John Frichter (loanmodpro)
#190 ranked lender in California - 10 contributions
Sure, it is always the best practice to continue making the payments that you have been making. When the loan modification kicks in and the new amount is due on the statement, you can always contact your mortgage company and ask for refund on the overage that you might have paid.
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