My bank want to modify my loan for $750mo, 2% interest rate, but keep the balance same.I have 2b+2ba condo in Reseda, CA. My bank wants to modify my loan for $750mo, 2% interest rate, but keep the balance same, which is $280,000. They actually deferred the $80,000 and I have to pay 2% fixed interest for 360mo only on $200,000. But I have to pay that amount, $80,000, end of the loan, when I sell the property or when I refinance. I though when modification is done the bank also lowers yours balance with interest rate permanently. I guess not. I just like to know if that's good deal. I think it is, because if I rent 2b+2b condo, I have to pay at least $1500 in Tarzan-Reseda-Encino area.June 25 2011 - Reseda00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.