What Is a Loan Modification and Can It Stop Foreclosure?

Written By Short sale .

A loan modification is when a lender agrees to change your loan terms.

What Can Change?

  • Interest rate

  • Loan term

  • Monthly payment

Can It Stop Foreclosure?

Yes — if approved, it may help bring the loan current.

Who Qualifies?

  • Financial hardship

  • Ability to make modified payments

Short sale .
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