Tag - loan modification

Which is Better? Loan Modification or Refinance?

Which is Better for My Situation? Loan Modification or Refinance? If you're currently facing a situation where you are not sure if you're going to lose your home you probably want to know your options before defaulting on the mortgage. You may have heard of the terms refinance and loan modification but really not understand the differences and which would work best in your situation. There is a difference between these two routes; one is more permanent and one is a temporary fix. One of the first things you need to do is contact your lender and let them know that you [...]

Getting Mortgage Approval After Loan Modification

Many homeowners faced financial hardships during the recession. Loan modifications were and still are a  way for homeowners to hold on to their home instead of losing it in foreclosure. If you are in the middle of a home modification or have had an approved modification you may be wondering what will happen if you want to move to a new home. Here is what to expect when you are in a modification and searching for a new home and home loan. The loan modification is a change from the original terms of a mortgage that resulted in the restructuring of [...]

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