All Posts Tagged With: "modify"
Mortgage Modification or Refinance — What’s The Difference?
Is it better to modify a mortgage or to refinance? While both result in new loan terms, the two choices are very different. When you refinance a mortgage you replace an existing loan with a new one. There’s no need to negotiate with the old lender because his mortgage claim will be extinguished. However, borrowers [...]
25May2010 | Peter G. Miller | 0 comments | Continued
Can “Equity Sharing” Prevent Foreclosures?
In the coming two years option ARMs worth $134 billion will be re-cast according to Fitch Ratings. This means more than 500,000 borrowers are likely to face steeply higher monthly costs, costs which in many cases will lead to foreclosure. It doesn’t have to be this way. Stop foreclosures and you can stop the widespread [...]
11Jan2010 | Peter G. Miller | 1 comment | Continued
Can I Bargain With A Lender During Hard Times?
Question: We’re in financial trouble. Anyway we can work-out something with the lender? Answer: Maybe. The lender does not want to foreclose and does not want your home. What the lender wants its loan repaid, in full, and with interest. But maybe that’s not possible. Some lenders, as an alternative to foreclosure, may be open [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
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