Loan Modification - Foreclosure Crisis Center

A loan modification can help you stay in your home and have a lower monthly payment. It is based on the fact that you are unable to pay the current amount of your mortgage on a timely basis. Typically this is due to a loss in income, a divorce, illness or death in the family. It can also be a result of a drastic increase in your adjustable rate mortgage payments. A loan modification lowers your payment by adjusting your interest rate, giving you an extension on the length of your loan and reducing your principal balance due. These are long term adjustments that will help you afford to stay in your current home.

Category:

Education

Tags:

• Foreclosure
• short sale
• debt settlement
• debt consolidation
• financial advice
• loan modification