What does it mean to have your mortgage suspended, during modification on a home loan?

Home Forums Mortgage Loan What does it mean to have your mortgage suspended, during modification on a home loan?

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  • #77745

    admin
    Participant

    #328542

    admin
    Keymaster

    It means they do not move forward with a foreclosure until the modification is decided upon.

    #328543

    admin
    Keymaster

    It is a vague term that usually means that they will not continue to process your modification unless you provide more information ( explanations of credit dings, old job verifications, additional bank statements). It can be frustrating if they have asked you for something you can’t get.

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