The Obama loan modification has expired. This means that homeowners who need to modify their mortgage due to a financial hardship will not have the same support that homeowners in the same situation have benefited from over the last 5 years or so. 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.
But how does a Homeowner obtain a mortgage modification for their mortgage? Continue reading