Loan Modification – Part 1: Home Mortgage Bailout – Real Estate Foreclosure Prevention Process
April 20th, 2009 | by admin |
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Duration : 0:10:40
2 Responses to “Loan Modification – Part 1: Home Mortgage Bailout – Real Estate Foreclosure Prevention Process”
By Eska9984 on Apr 20, 2009 | Reply
Very informative …
Very informative video.
Thank you.
Keep them coming!
By beachdude on Apr 20, 2009 | Reply
A Mortgage Modification is a process whereby a home owner’s mortgage is modified and both the lender and homeowner are bound by the new terms of the new mortgage.
The most common mortgage modifications are listed below:
lowering the mortgage interest rate
reducing the mortgage principal balance
fixing adjustable interest rates within the mortgage
increasing the loan term throughout the mortgage
forgiveness of payment defaults and fees
or any combination of the above
Check out this public service site at http://mortgagemodificationinfo.org