Loan Modification - Part 4: Home Mortgage Bailout - Real Estate Foreclosure Prevention Process

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From: ModificationHotline

Related topics : mortgage loan modification process / loan home mortgage / real estate homes / foreclosure homes

What is a loan modification?

http://raygarcialaw.com

A loan modification is generally, in it's simplest form, the request to change the terms of my existing mortgage; whether you're changing the length of the loan, whether you're changing the interest rate at which your original loan was at, whether you're changing or requesting to have your principal balance removed.

It's a basic plea to the bank saying I can't afford my mortgage as it is now, however, look at my financial situation. I am making money, I have income....

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From: Law Office of Ray Garcia, P.A.

Related topics : mortgage loan modification form / bank loan interest rates