Mortgage Modification Timeline

Sometimes people fall into financial trouble and have difficulty making monthly payments on their mortgages. Many people are turning to mortgage modification to help make their payments much more manageable. If you are thinking about refinancing your mortgage, you are likely wondering how long the entire process will take. Though each modification is calculated on an individual basis, there are some common characteristics of mortgage modifications that have relatively regular timelines.

If you or someone you know is considering mortgage modification, or needs to speak to an attorney about refinancing a mortgage, contact the experienced Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C., today by calling 443-546-4608 to discuss your modification needs.

Mortgage Modification Process

When you refinance the mortgage on your home, there are several steps involved in the process. Generally the mortgage modification process involves:

• Making the initial modification request—this can take several days, depending on your speed
• Reviewing the request—your lender and/or modifier will review the request—this can take up to 30 days
• Trial period plan—if approved, you will begin a 3-month trial period to ensure your stability
• Final agreement—final review may take up to 30 days

These steps, in general, are common to all mortgage modification negotiations, though the time it takes to complete the process varies from person to person.

Contact Us

The mortgage modification process can be overwhelming, especially if you do not know where to start. If you or someone you know is considering this process, contact an experienced Maryland mortgage modification attorney of Chaifetz & Coyle, P.C., today at 443-546-4608.