Processing a loan modification can take forever at times. For a homeowner who is in distress may not find this helpful in any way since time is what counts before a foreclosure is served. How much time it takes for a loan modification would depend on a lot of things and the faster you submit an application the better for the processing to commence. The time range for a loan modification to be executed could take an upward of 30 to 90 days to achieve because of the processes and stages involved. A loan modification company may save some time, though.
A number of applications submitted affect time frame
Know that you are not likely to be the only one that may be applying for the same program. The number of loss mitigations at hand would count on how fast you would get your processing through at the time expected. So, in this case, how fast it would be for you would be proportionate to how early you submitted your hardship letter which is the starting step.
Banks differs and this may be another reason
All banks do not work the same way. For this reason, it can take more time for your application to get through. The patronage and customers of banks vary likewise. It may not be impossible to find a bank having over 500 similar loan modification applications to work on at the same time which invariably may slow down things
Using an attorney
A loan modification firm can also speed up your process because they are experienced and would know all relevant documents to have handy for the process to go faster. Medicare medics is a company you can trust to help in your process. You can visit their website at http://medicaremedics.com/ for more information and assistance.