I received a PERMANENT mortgage modification. Is it legal for my servicer to try and re-do it?

by **starling** » Thu Jun 28, 2012 5:48 pm

USDA Rural housing holds my mortgage Chase is my servicer. Chase is saying they have to re-do the modification. How is that legal when it was permanent? Specifically interested in answers from anyone in this business or lawyers.

by **ailwyn** » Thu Jun 28, 2012 5:49 pm

Legal for them to try. My guess is that you have no obligation to go along with it.

by **bardoul** » Thu Jun 28, 2012 5:53 pm

Read your agreement, most modifications are 6 or 12 months and allow the lender to reevaluate the modification, as the vast majority are like this read your agreement and make sure the end date is not a year from when you signed, I would be very surprised if it was for the length of the loan first time out.

by **pascoe69** » Thu Jun 28, 2012 5:58 pm

You need to read all the documents you signed and those provided to you by the lender in order to know if your modification was totally completed.

Chances are that what you thought was permanent was only the first step in the process.

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