Loan Modification

Not that it has evolved to a cocktail party conversation, but I hear more and more about loan modification.  A loan modification is where you work out new financial details of the current mortgage that you have with the current mortgage company.  It is typically done instead of selling the house in a short sale or letting it go into foreclosure.  Just like it sounds, it is modifying your loan.

Rob Bonahoom over at www.InvestmentMortgageGuy.com posted a great article about how you get it done.  Check it out at Investment Mortgage Guy.com.

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