What is a loan modification hardship?
by John P.
Can you please give me some examples for a hardship related to loan modification?
Usually the following reasons constitute as hardship:
- Medical Bills
- Death of spouse or co-borrower
- Job Relocation
- Loss of Job
- Reduced Income
- Failed Business
- Military Duty
- Damage to Property (natural disaster or unnatural)
- Adjustable Rate Mortgage Reset - not that uncommon yet, but that may change in the near future. Follow the press.
Get more details on our Hardship Loan Modification