Mortgage Modification Agreements
I made a modification agreement with my lender and executed it did what I was supposed to on my component as far a payments to contribution, etc. I had already paid $ 1700 on the modification when they sent me a new modification 2 months later, back dated to March (when the original was in Feb.) I received it in the middle of April. They stated they maid a mistake on the dollars owed and their Settlement Dept kicked it back, of course it was a lot more as far as contribution etc. Which they had already overcharged me for taxes,escrows, etc. I told them that I was holding them legally liable for the Feb modification considering that we had already paid cash on it and each parties were not agreeing to change it. They have not recorded the Feb 1 and I have been producing my mortgage payment as instructed on the Modification I agreed to. The mortgage lender said that it does not function that way, that they haven’t agreed to it. The initiated it when they sent the agreement, did not they? Can they do this? Can they nonetheless foreclose?
Answer by Landlord
No, they are correct. The modification is temporary for the 1st 6 months, it is a trial period. You may possibly manage to hold them to it until Aug, but they can cancel it at that point in time.