How Long Do I Have to Stay In-Home After a Loan Modification?
Moving after a loan modification might be difficult due to lender restrictions.
Lenders grant home loan modifications when the borrower proves financially unable to meet present payment terms, yet has the ability repay a reduced amount. Lenders may modify loans for owner-occupied homes or investment properties. If your loan was modified under the condition that you live in the home, you can't simply move out and rent the home. The lender may stipulate that you must continue to live in the home or sell it after a loan modification; however, there is generally no minimum time frame you must keep the home after modifying.
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