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Loan Modification  
   

A loan modification is when the lender agrees to modify any of the terms of the original note, which may include reducing the interest rate, extending the term of the loan and reducing the monthly payment.

Often the delinquent payments can be reduced, forgiven or added as a balloon to the end of your loan. In addition, many lenders are even allowing for applications of “Short Refinances” or “Short Pay Offs” which will allow you to get a new loan for less than what you may owe and the lender can forgive the difference.

 

Negotiating a loan modification with your lender can be a frustrating and arduous process.   The lenders usually require significant personal financial information from homeowners as well as supporting documents.  We can help you navigate through this often complicated process.

 
   
   
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