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Loan Modification Requirements
With loan modification, you
can change some or all of your mortgage loan
terms, protect from foreclosure and obtain a
more affordable payment.
What
qualifies as a loan modification
1. Owe more that what the
home is worth.
2. Adjustable rate mortgage that has or is
getting ready to adjust to a higher payment
3. Behind no more than 2 payments (no NOD filed;
start of the foreclosure process)
4. Experiencing some type of hardship...loss of
job, hospitalized etc...
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