Those in the process of purchasing a new home are all too familiar with loans through mortgage lenders. However, if you’ve had a mortgage for a while and have fallen on hard times, you may want to know about loan modification options. Loan modification options are a means by which one or more of the terms of a mortgage loan are permanently changed. This allows the loan to be adapted to enable the borrower to maintain their loan and make payments they can afford. Some home lending and financial experts consider loan modifications to be a win-win situation. This is particularly true...

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