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Loan Modification a HUD approved workout solution

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Loan Modification is a HUD approved workout solution becoming more common during this foreclosure crisis.

Loan modifications typically involve a reduction in the interest rate on the loan, an extension of the length of the term of the loan, a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so is less than the cost of default. Loan modification is actually a process or ...

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