Loan modification by definition: This is a process whereby a homeowner’s mortgage is modified and both lender and homeowner are bound by the new terms. Common loan modifications are lowering the interest rate, reducing the principal balance, ‘fixing’ adjustable interest rates, increasing the loan term as we have outlined below, forgiveness of payment defaults &  [...]

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How to avoid foreclosure, what are your options when you get behind with your repayments and it looks the bank will foreclose on your home? The first thing you should do is talk to your bank about the possibility of loan modification, today banks and lending institutions are more than willing to talk to home owners who [...]

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The housing affordability plan – whats in the plan, how it will impact on you. Stop forclosure, loan modification and refinances.

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