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Depending
on your exact situation, your lender may consider a mortgage
modification. With a mortgage modification, it's possible to
refinance the debt and/or extend the term of your original mortgage
loan. This will make your new monthly payment affordable and
allow you to build the missed payments into the new 30 year
loan.
A mortgage
modification makes it much easier for you make your monthly
payments and easily catches you up on your missed payments.
Not all lenders will offer a mortgage modification, however,
it is one of the easiest and fastest ways to stop foreclosure and get back on track with your payments. |
