General Qualifications for a Loan Modification

The qualifications for loan modification vary based on each homeowner's unique situation. The list provided below is an attempt to identify commonalities between most people who qualify. After reviewing this list please call us at 410-798-6611 to speak with a load modification specialists who can evaluate your situation.

The following are general stipulations that might qualify you for a loan modification

  • You have a variable rate loan and negative amortization
  • You have a fixed rate loan with a very high interest rate
  • Your loan requires a penalty for prepayments
  • Personal or Economic hardship such as death of a spouse, loss of employment, injury, accident, illness or divorce
  • You are behind payments and unable to become current
  • Lending violations in your original mortgage

 

Sunday, September 15, 2019

Application Options

We offer a variety of loan application options, including a Quick Application, a Standard Application, and a 5 Step Application.

Click here to get started!

Shannon Smith-Wood
Colonial Mortgage Group

3261 Old Washington Rd, Suite 1011, Waldorf, Maryland 20602
Phone: 410-798-6611 | Fax: 410-798-6618
Company NMLS: 70452 & Individual NMLS: 3964
www.nmlsconsumeraccess.org

Residential Mortgages provided by Colonial Mortgage Group
Licensed: MD LO 5908 & MD 17542;  DC MLO3964 DC MLB70452; FL MBR1384
Licensed by the Virginia State Corporation Commission License #MC5185 & MLO-18339VA. Licensed by the PA Department of Banking License # MB35217 & PA LO 47550

By refinancing your existing loan, the total finance charges may be higher over the life of the new loan.