What is a Loan Modification? A mortgage loan modification is a process whereby the terms of the existing mortgage are modified to new terms that are more agreeable to the homeowner and lender. What’s the basic idea behind loan modifications? How does this work? Can a loan modification save my home? Lenders have been faced [...]
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Mortgage Loan Modification Myths and Facts
by Justin Bartlett in August 10th 2009Over the duration of the last year, mortgage loan modification has been getting increased attention from both the media, and from homeowners that can no long afford their mortgage payments. There are a good deal of preconceived notions and inaccurate assumptions regarding loan modifications from many self-fashioned experts that simply do not know the slightest bit about loan modifications.
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