Hope For Homeowners, Finally an Option Out of Foreclosure
In the case of a foreclosure many institutions suggest doing a modification, a modification is when you amend the terms of your current loan either by taking any past due payments and attaching them to the back of the loan or by temporarily reducing your rate. But this is like putting a band-aid on a broken bone. The modification is designed to give the borrower some time catch back up with their payments, the problem with this concept is that it is a temporary fix and still leaves you in the same …
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