A mortgage modification is otherwise known as a loan modification. Fundamentally, what is involved is that your lender agrees to a change in the terms of your mortgage. The changes made are intended to make it easier for you to meet your repayment obligations and so avoid foreclosure. In many cases, modifying your mortgage repayment […]
Tag Archive | "mortgage modification"
What is the difference between mortgage refinance and modification? Fundamentally, mortgage refinancing involves changing the terms of your mortgage to something more suitable for you. In effect, you pay off your existing mortgage loan and replace it with another with terms more favorable to you. Mortgage modification is a way of making the mortgage more […]