Do You Know Someone With A Sub-prime Loan?
If you know someone with a sub-prime loan it is time for them to take action. They need to call their loan servicer today. The loan servicer is the one collecting their payments. The industry has agreed to rewrite most of these loans. This means they can avoid the prepayment penalties. This is big. Those who are current on their mortgage have the best chance for a re-write of their loan. Even those who are late on their payments may get consideration. The industry has chosen to take this action voluntarily. They should not delay one day on making the changes to their loan.
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