Legal Question in Real Estate Law in California

I would like to apply for a loan mod as I am having issues paying my mortgage. I have a interest only loan right now but i also have the option to pay the amortized payment.

Using the interest only payment I am below the .31% but using the regular payment I am above it .

Does anyone hav einformation on which payment I should use? Is it always the minium I need to give the bank doing my loan modificaiton ?


Asked on 8/12/09, 7:10 pm

1 Answer from Attorneys
Larry L. Doan Law Office of Larry L. Doan

That depends on whether your bank is using Obama's plan "Home Affordable" or their own guidelines for loan mods. Check with your bank.

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Answered on 8/13/09, 11:18 am


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