Loan modification is often referred to as loss mitigation and was established by the Federal Government and the credit industry to help borrowers who can not pay their debts for a variety of reasons. A loan modification is a change of one or more of the terms of their existing loan agreement, such as compounding [...]
A loan modification is one of the best options available for struggling homeowners as well as lenders. Loan modification is a long-term solution that will help the borrower make their loan payments and stay in their home. This can be accomplished by decreasing the interest rate, or if an adjustable rate, changing it to a [...]