- NEW!
by OldJimmy on July 31st, 2009
Yes, any terms of a modification agreement are pretty much up to the lender. You do not have to accept what they offer. I do not know if they will consider a counteroffer that does not contain any additional contribution from you, but there is no law against asking.
They are basically allowing you to change the original contract, so they have the position of strength in this. However, they run the risk of losing your account to another lender (if you are a "good" account) or having the account go into default if you can't manage the modified terms and ending up foreclosing (which they don't want to do; they have no desire to own property if they can avoid it).
If a person has not paid taxes for ten years or more do they lose the home to person who did?
by Hazecat on April 12th, 2011
| 1 person likes this
what can i do get back a washer/dryer that was "sold" to a neighbor, but never paid for? i dont have receipts
by Anonymous on July 9th, 2011
| 2 people like this
Should it be legal to kill a man for flirting with your wife, provided he's given fair warning in the form of the question "do you want to
by Have A Nice Day on August 15th, 2011
| 2 people like this
I just received a parking ticket for parking in the handicap spaces in our apartment complex that we had permission to use. What do I do?
by elizlogan on June 26th, 2011
| 1 person likes this
Landlord has not paid $6000 judgement awarded 10 months ago. He has recently sold my equipment. What recourse can I take to get my money?
by crazylady4459 on August 28th, 2011
| 1 person likes this
You're reading Can a lender ask for and require you to make contribution (money) to complete your modification?
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!
Comments