| |
A loan modification is an agreement that is negotiated with your current
lender that changes the terms of your current loan. Lenders are willing
to negotiate when borrowers are facing financial difficulties and can't
obtain other financing alternatives. You must show the lender why it
would be in their best interest to agree to a workout arrangement. If
convinced, a lender may be willing to reduce the loan interest rate,
reduce monthly payment amounts or change other loan terms.
A loan modification generally occurs when the parties to a problem
mutually agree to work out the problem by creating new and better loan
terms. The hope is that the new loan will enable to the borrower to meet
their obligations.To
learn more about our loan modification programs, please call
818-345-0780 or
contact us.
|
|
|
