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What Is A Home Loan Modification?

Loan Modification Law Offices of John T. Orcutt

 

What is a home loan modification?

 

Foreclosure is a costly process for lenders, so many are willing to consider loan modification as a way to avoid doing so.

 

A loan modification is different from refinancing your mortgage.  Refinancing calls for replacing the  loan with a new mortgage, whereas a loan modification changes the terms of the existing loan.

 

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