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Originally Posted by improving  Interesting, useful info. They (media/loan modif.agents)make it seem like you need to default on your loan before a loan modification. This article clears up the mis-conception I think. It is best to make your payments, but if you can't - then talk to your loan advisor - don't wait! I think that is the best thing to do. |
At our credit union they have a program that you can miss a payment,and if you need to they will pay the payment for you.You than have 6 months to pay it back,you can make monthly payments but has to be complete in 6 months.