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Loan Modification vs Refinance

admin July 04, 2008 Foreclosure News No Comments

Tags: Foreclosure Trends, loan modification process, mortgage loan modifications, mortgage loan refinance

Overview: Loan Modification vs Refinance

There are several differences between a mortgage loan modification vs a mortgage home loan. These are used in different situations and are not synonymous with each other, although they both provide homeowners with financial relief. Refinance and Loan modification serve different sets of homeowners: Homeowners wanting monetary leverage and homeowners needing to save their home respectively.

Reasons for loan modifications and refinance

In the past year, mortgage loan modifications has become a large part of the real estate industry and often a term referenced with home foreclosures. So what is the big … Continue Reading

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Not all borrowers will meet the criteria for our mortgage loan modification program and our company does not guarantee any specific modification results.

Enrollment and modification results are subject to prerequisite and approval into the mortgage loan modification program. Actual results will differ based on individual situations and lenders, the current terms of your mortgage, and your capability to meet the terms of your modified mortgage. A mortgage loan modification is not a guarantee against foreclosure if you fail to meet the terms of your modified mortgage.