The loan modification numbers are down. The housing crisis has now been lingering nearly five years. The only way troubled house owners whether underwater with value of house being less than loan due amount or others facing foreclosure can get out of the ditch is by modifying their loans. It lowers the rate of interest on the mortgage and this result in monthly payments becoming affordable. The programs on loan modification are offered by the companies servicing the mortgage. Continue reading “Loan Modification Numbers Down”
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