If I’m not behind on my mortgage payments, can you still help me?

January 20, 2011

To qualify for a mortgage modification, most lenders require that you have had, or will have, a documented hardship that makes it difficult or impossible to maintain your mortgage payment. Of course, the most obvious evidence of such a hardship is a delinquent payment history. In this respect, homeowners who are current on their house [...]

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What’s the difference between a mortgage modification and a refinance?

January 20, 2011

Where to begin? First off, a refinance involves the payoff of an existing loan with a new loan. A mortgage modification is not a new loan, but rather, a change to the terms of an existing loan. Mortgage modification is a compelling alternative when a homeowner is denied the ability to refinance and they are [...]

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THE LOAN MODIFICATION PROCESS

January 20, 2011

The Modification Process Before we discuss the mortgage modification process, it is helpful if you know a few things about what a mortgage modification is not. A mortgage modification… • IS NOT a new loan • IS NOT a refinance • DOES NOT require a credit check According to Investopedia a loan modification is: A [...]

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