QUESTION
Are Mortgage Loan Modifications and Principle Reduction Loans allowed in the state of Washington?
Asked on Dec 18th, 2012 on Foreclosures - Washington
More details to this question:
My sister has a Principle Reduction Loan done in California and my attorney here in Kirkland said Washington does not do them. Please Help.
2 ANSWERS
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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They are done regularly. It is the lender who makes the decision. And yes, I do practice in Washington.
Answered on Jan 10th, 2013 at 8:30 AM
Civil Litigation Attorney serving Federal Way, WA
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Stasch Law LLC
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Yes, if you qualify under the Federal Guidelines in most cases loan modifications are encouraged in Washington. Principal reductions are made voluntarily by the lenders but they are also encouraged.
Answered on Dec 20th, 2012 at 4:24 AM