MORTGAGE MODIFICATION Tag

A mortgage modification is a way for homeowners to lower their house payment, and free up disposable income each month. The way it works is that the current home loan lender rewrites the loan, lowering the interest rate and giving you a lower payment. But the process can be complicated, and many homeowners become frustrated along the way and allow their lender to delay or stop the process...

Mortgage modifications are a tricky thing to get done. There is a fine line you walk between financial hardship and being able to make the payments on a modified loan. This is why the banks typically require proof of hardship as well as proof of stable income. Most people are able to provide the information needed to show a financial hardship, and the need to change the payment terms of their...

Any time you engage in activity designed to help put you in a better financial position, it is always a good idea to have a basic understanding of the benefits available to you. With bankruptcy you will receive the benefits of eliminating or reducing debt, stopping a foreclosure or repossession, and putting and to garnishments and calls from angry creditors. A refinance of your home will let...

Financial hardship comes in many forms. Not everyone who is going through a tough financial time is there for the same reasons. But there are some common denominators, and any of them can lead to a fast financial downfall. When that happens the best thing to do is to take quick action to change the course of your finances, so you are able to keep up with bills without worry. A good way to...

Being able to retire comfortably takes a lot of stress and anxiety of a person. But not having enough money to live on, or having to go back to work at an older age are even more stressful. For these reasons, it is critical to adequately plan for retirement, and this means taking steps to ensure you have enough money in the bank to cover expenses for the remaining years of your life. This is...

When homeowners are not able to make their house payments without difficulty, it is time to start looking for options to get rid of debt or reduce current expenses. There are several ways to do this, and one of the most well-known options is to file for bankruptcy. Bankruptcy is a great tool for getting out of hand finances under control, but it is not the only option. Another idea to think...

Mortgage modification programs are great ways to reduce your house payment. The way it works is that you apply with your current mortgage lender for a rewrite of your existing mortgage. The rewritten mortgage will have new terms, and the biggest change is a drop in interest rate. Once the interest rate on your loan goes down, your payment will decrease as well. If you are struggling to make...

No one likes to live in crisis mode, whether it is having to figure out how to get the kids to and from their after school activities when the car is in the shop or burning the midnight oil studying for a test or preparing for a presentation at work that has been put off, when you have more than you can handle you can feel like everything is too much to tackle. This concept is even more true...

Never before in recent years have there been more sources for how to complete a do it yourself project. You can google nearly any task and find a variety of videos to watch, or a step by step guide on how to get a project done the way you want. The DIY approach can save money and time, but is not the best idea for all circumstances. For instance, if you need a haircut you can probably find a...

If you are short on your house payment each month, one of the things you should consider is asking your lender to modify your mortgage. A mortgage loan modification is a good way to change the terms of your mortgage, without having to go through the requirements of a refinance. In a mortgage modification your current lender will re-write your loan, giving you a lower rate and other beneficial...