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    Sergiog's Avatar
    Sergiog Posts: 8, Reputation: 1
    New Member
    		  
    #1

    Sep 27, 2008, 11:51 PM
    How work loan modification?
    My home drop down in price about 200K, can lender modify my loan to currect home price?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Sep 28, 2008, 12:16 AM
    Highly unlikely.
    You have already agreed the terms of the loan and as such you are bound by them.
    This is known as Negative Equity.
    Sorry to say but that's one of the big stings in the tail of the sub-prime credit crises
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