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9 mar 2020 · A loan modification doesn’t replace your existing loan with a new one, like a mortgage refinance. Instead, it changes the terms for your mortgage to make it more affordable for you.
15 maj 2024 · A mortgage loan modification alters your home loan without refinancing, and can help avert foreclosure.
11 lip 2023 · These programs provide an opportunity to restructure the terms of a mortgage loan in order to make it more affordable and manageable for the borrower. The goal of loan modification programs is to prevent foreclosure, keep families in their homes, and stabilize the housing market.
19 maj 2022 · Unlike mortgage refinancing, loan modifications don’t replace your existing mortgage with a new one. Instead, they change the original loan.
24 kwi 2020 · Getting a mortgage loan modification could mean extending the length of your term, lowering your interest rate or changing from an adjustable-rate mortgage to a fixed-rate loan.
4 maj 2023 · The Flex Modification program for borrowers with a conventional loan owned by Fannie Mae or Freddie Mac is a popular option — but before you permanently alter your mortgage, make sure you understand when it makes sense to get a loan modification.
24 lip 2024 · Is it hard to get approved for loan modification? Learn the loan mod process, how to apply, do's and don'ts for getting one, and who's likely to qualify.