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

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

    As with any mortgage product, it’s worth evaluating the pros and cons before applying. Pros of refinancing Lower interest rate: This has been a huge driver of refinances over the years.

  3. Reverse Mortgage, Home Equity Loan or Refinance? The Pros and ...

    www.aol.com/finance/reverse-mortgage-home-equity...

    Home equity is a valuable financial resource.By definition, it’s the difference between your home’s value and how much you owe on your mortgage. For example, if your home is worth $500,000 and ...

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

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

    A mortgage refinance changes the rate or term (or both) through a new mortgage loan. Is a second mortgage the same as refinancing? A second mortgage and a refinance are not the same thing. A ...

  6. Pros and Cons of a Reverse Mortgage - AOL

    www.aol.com/pros-cons-reverse-mortgage-210003920...

    There's a lot of misinformation about reverse mortgages -- and Tom Selleck can only answer so many questions in 30-second TV spots for AAG. Reverse mortgages can be a lifeline to seniors who are...

  7. Loan modification in the United States - Wikipedia

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

    Chart 1. Chart 2. During 2007, investors and ratings agencies have repeatedly downgraded assumptions about sub-prime credit performance. A Merrill Lynch study published in July estimated that if U.S. home prices fell only 5 percent, subprime credit losses to investors would total just under $150 billion, and Alt-A credit losses would total $25 ...

  8. Adjustable-rate mortgages: What they are and how they work - AOL

    www.aol.com/finance/adjustable-rate-mortgages...

    The initial interest rate on an adjustable-rate mortgage is sometimes called a “teaser” rate, and ARMs themselves are sometimes referred to as “teaser” loans. ... The pros and cons of ARMs ...

  9. Flex Modification Program (FMP): Everything you need to know

    www.aol.com/finance/flex-modification-program...

    In-house modification: Many mortgage lenders have created their own in-house modification programs that come with different terms than the FMP. Contact your lender to find out if it offers a ...