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2. Loan modification vs. refinance: Which option is best for you?

   www.aol.com/finance/loan-modification-vs...

   A loan modification, on the other hand, is a loss mitigation option you might need to do if you are struggling to make mortgage payments. Without a loan modification, you risk going into default ...

3. How to lower your mortgage payment

   www.aol.com/finance/lower-mortgage-payment...

   The reduced loan amount means smaller monthly payments and less total interest paid over the course of the loan. To illustrate how this works, assume you have a $300,000, 30-year mortgage with a 6 ...

4. Mortgage loan modification: What it is and how to get one - AOL

   www.aol.com/finance/mortgage-loan-modification...

   USDA loan modification: With a USDA loan, you can modify your mortgage with an extended term of up to 40 years, reduce the interest rate and receive a “mortgage recovery advance,” a one-time ...

5. Loan modification in the United States - Wikipedia

   en.wikipedia.org/wiki/Loan_modification_in_the...

   Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances. Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure.

6. Loan modification company - Wikipedia

   en.wikipedia.org/wiki/Loan_modification_company

   Loan modification companies can also inform homeowners of federal programs, which may be advantageous. [2] In the United States there are numerous federal loan modification programs that homeowners can partake in, like the FDIC Loan Modification Program. However, homeowners must meet government mandated eligibility requirements before they can ...

7. Mortgage refinance: What is it and how does it work? - AOL

   www.aol.com/finance/mortgage-refinance-does...

   A loan modification changes the rate or term (or both) of the existing mortgage loan. A mortgage refinance changes the rate or term (or both) through a new mortgage loan.

8. Loss mitigation - Wikipedia

   en.wikipedia.org/wiki/Loss_mitigation

   Loan modification: This is a process whereby a homeowner's mortgage is modified and both lender and homeowner are bound by the new terms. The most common modifications are lowering the interest rate and extending the term to up to 40 years. Reduction in the principal balance, however, is so rare that the Federal Reserve wrote in a report that ...

9. What is loss mitigation? - AOL

   www.aol.com/finance/loss-mitigation-131710263.html

   Loan modification Loan servicers are willing to explore loss mitigation, meaning they want to keep you in the house and get what you owe from them. (This is cheaper and easier for them than ...