Miami Mortgage Modification
Make Your Payments Work For You
The Benefits of Loan Modification
LOAN MODIFICATION PROCESS -- Renegotiating your loan repayment with the lender should be the first option that you consider before stepping up to the realities and pains of foreclosure.
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This is an option that every borrower has whose income has reduced but is willing to continue paying the loan. The loan modification involves reducing the monthly repayment and extending your loan repayment term.
Your lender may decide to eliminate charges for late fees and other costs associated with failure to pay for installments with this alternative. Although extended terms of the loan will raise the overall loan rates the additions or less than the cost of foreclosure and save you the headache..