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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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