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What is a Loan Modification & How Can I Successfully Negotiate One?
What is a Home Loan Modification? A successful 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. Whatâs the basic idea behind loan modification agreements ? How does this work? Mortgage Banks have been faced with staggering losses due to so many foreclosures. Typically when a bank forecloses on a home, the house has little to no equity, or is âupside downâ. Wh
August 5, 2009