But how does a Homeowner obtain a mortgage modification for their mortgage? Continue reading
Modification of Mortgages
Mortgage modification will stop foreclosure.A mortgage modification is the product of modifying or altering the term of a mortgage. Mortgage modification is a loss mitigation tool used to save troubled mortgages. Through mortgage modification a homeowner is able to reduce the monthly payments on the mortgage as well as the mortgage principle. Mortgage modification is growing in popularity because of the favorable terms a Loan Modification can produce for the Homeowners mortgage.