Mortgage refinance, loan modification, loan reinstatement, repayment, and forbearance are all options for home owners who are unable to make monthly payments and are in need of relief. These programs have helped many mortgage holders keep their homes who otherwise would go through foreclosure.
loan modification
Changing or amending one or several aspects of a mortgage agreement is called loan modification. Loan modification is normally used by mortgage companies to help mortgage holders but can be used to alter the terms of any loan or debt obligation.
Loan Modification Assistance Aiding Struggling Borrowers
There are millions of mortgage holders who are having a hard time making their monthly payments. Many people are at risk of foreclosure and the real estate market is still shaky in many areas. Lenders are now willing to discuss relief and assistance programs with many homeowners to help them stay in their homes.