If I dont like the terms of the home loan modification, can they be negotiated?
Absolutely. One of the biggest parts of the loan modification process is the negotiations. Typically, the first offer that is put on the table by the lending company is not going to be one that is going to meet your long term goals. Therefore you will need to negotiate until you can agree on terms that are going to suit your needs now as well as in the future. Keep in mind, this is a business, they are trying to make money. As long as you are knowledgeable and do not allow yourself to be bullied you will likely be able to win the negotiations. Many lending facilities will use less than appealing practices in order to get the borrower to agree to terms they are not completely comfortable with.
