Do you have to be late on your mortgage to qualify for a loan modification?

I get this question a lot, from both distressed homeowners who attend my loan modification workshops and other folks I consult:

"Do I need to be 'late' on my mortgage' to qualify for a mortgage modification?"

You do not.

The standard is that you are either late or you are in "imminent danger" of being late.

Example - a client of mine had a steady job, never missed a mortgage payment, but was told in no uncertain terms by his employer that he had three months left at his current job. He knew that without any solid job prospects, he'd be unable to keep current on his mortgage payment.

So this client qualifies under this lender test for a loan modification, even though he does not have any "mortgage lates" yet.

If you live in South Florida, you can get more information on how to re-negotiate your current mortgage rate and payment at one of my upcoming free community workshops.

Visit my website for more details:

www.LastChanceMortgageHelp.com.