Should I Get a Loan Modification?

Loan modifications took center stage in 2011, but will it stay that way in 2012? Homeowners who are struggling with their mortgage payments naturally turn to the idea of a loan modification as the answer to their prayers. It’s no wonder: you see ads for home loan modifications all over the media. So-called “loan...

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How You Can Prevent Delays in the Mortgage Loan Modification Process

A mortgage loan modification is when the lender reworks the terms of your existing home loan to make the monthly payments more affordable. Lenders will lower the interest rate, extend the terms of the loan, reduce the principal (although rare) or a combination of any of the above to get the payment down.   A mortgage loan...

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