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Tag Archive | "loan modification"

Avoiding Foreclosure With an FHFA Loan Modification

Avoiding foreclosure is not easy, but an FHFA loan modification can help (FHFA is the Federal Housing Finance Agency.) When you are struggling to meet your mortgage repayments it can take a great deal of work to avoid foreclosure and that dreaded eviction day. A recently federal announcement in March regarding a new loan modification […]

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Loan Modifications: Their Purpose and Eligibility

Loan modifications often become necessary when borrowers are unable to maintain the terms of their mortgage loan. It is also referred to as a mortgage loan modification or restructuring. A loan modification would typically be offered if a borrower’s mortgage payments were in excess of 38% of their income and they had missed 3 monthly […]

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Loan Modification: Basics of Mortgage Modifications

Loan modification is a process that enables those in danger of foreclosure to modify or rearrange their mortgage. Fundamentally, the purpose of mortgage modifications is to enable homeowners with payment difficulties to keep current with their repayments and retain ownership of their homes. There have been problems with these in the past, and many lenders […]

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