WHAT IS A MORTGAGE MODIFICATION?

A Mortgage/Loan Modification is where your existing lender agrees, through a series of negotiations and paperwork, to change the terms of your loan. A Mortgage Modification may:

bring you current on your mortgage
reduce your interest rate
reduce the amount of your mortgage debt
extend the term/period you have the repay the loan; and/or
reduce your mortgage payment.

In short, a Loan Modification helps you keep your home.

Rob Russell2020-10-28T08:58:43+00:00

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