Loan modifications: Do you really want to apply?

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If you are considering a loan modification in Los Angeles, think about the long-term impact of your financial disclosures. What you reveal can be quite costly if you later decide to pursue a short sale. The bank will ask for all of your financial information. It may also seek detailed information on your hardship. Say you have property in Playa Vista or Palos Verdes that is declining in value. You've lost your job and have a bit of savings keeping you afloat. Chances are you have a … [Read more...]