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What Exactly is a Loan Modification | My-Mortgage.orgThis is a discussion on What Exactly is a Loan Modification | My-Mortgage.org within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Wednesday, December 3rd, 2008 @ 8:52 pm | Mortgage · Powered By CbproAds · What Exactly is a Loan Modification ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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12-04-2008, 02:41 AM
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What Exactly is a Loan Modification | My-Mortgage.org
Wednesday, December 3rd, 2008 @ 8:52 pm | Mortgage · Powered By CbproAds · What Exactly is a Loan Modification You are underwater with your home. You can’t sell it for what is owed. Sound familiar? Join a million other homeowners, b.../b
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04-28-2010, 02:22 PM
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loan modification
Loan modifications allow the bank to make loan payments more affordable for borrowers. They may change interest rates, loan terms, loan balances, or other parts of the loan agreement.
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04-29-2010, 03:05 AM
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Many professionals consider Bank of America to be one of the most frustrating lenders to modify a loan with. With the recent acquisition of Countrywide, they now service an enormous amount of home loans for an equally large amount of backing mortgage investors. This means that every loan they have falls under different guidelines and the modification options on each loan are always different. Patience and persistence will be the your best weapons to fight this uphill battle.
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Shocking Loan Modification and Debt Settlement Results Massachusetts Short Sale Experts Northeast Properties 866-794-1869
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