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Can anyone give me any information on how to go about getting a principal reduction on my primary home? I currently live in Las Vegas and have owned the home 7 years.
Call your loan servicer and ask what kind of programs they're offering. I doubt they'll reduce your principle but may do a loan modification that will lower your payments.
I'm not looking for a loan modification. I am looking for info on principal reduction programs. Please no negative comments either I'm not interested. Thanks.
We've had several threads here talking about how it's becoming that lenders are preferring to foreclose and take TARP funds then accept less then is owed on a house...
What leverage do you intend to use to get them to lower principal? or are you referring to some phantom govt program that's giving people money directly now?
The lender is not just going to lower what you owe them for no reason. Are your struggling to make a payment? have you lost a job? Even if you have a good reason, very doubtful they will reduce your principle.
I'm not looking for a loan modification. I am looking for info on principal reduction programs. Please no negative comments either I'm not interested. Thanks.
Well that doesn't change my original answer. Contact your loan servicer.
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