UnderstandingMortgage Modification - 0 views
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jason tatum on 08 Apr 09Mortgage modification is a process wherein you talk your lender into lowering your monthly payments, either by reducing the interest or switching to a more stable payment plan. Most companies offer mortgage modification through their Loss Mitigation department. As the economy puts more people in default, many lenders have also launched mortgage modification programs to assist homeowners in financial crisis or those with sub-prime loans that have recently reverted to regular rates.