The question:

“Will my mortgage company work with me regarding my mortgage and payment?”

My answer:

I assume you mean with a loan modification brought on by a rising interest rate or some other reason creating a need to modify the loan and/or the payment.

Sadly mortgage lenders and/or servicers are slow to work with borrowers until they go into default or are at least a few payments behind which it sounds like you have yet to experience. I’m assuming you are anticipating the need for a loan modification to avoid a default and subsequent foreclosure.

This is what I call “preemptive mortgage modification”…and to my knowledge it’s a pretty tough row to hoe with lenders.

It’s still worth a try…call them and at least try. The worst case is too keep paying the mortgage as long as you can, then if the adjustment makes it impossible, you’ll get behind, and then the mortgage company will work with you now that you have their attention.

It’s still not an easy road and it helps to have a map. Our Loan Mod Category ebook could come in handy.

Good Luck!

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