Compare Mortgage Quotes

mtgfixit · Joined: 13 Apr 2009 Posts: 73 28.11 Dollars($)

[System detected duplicate content, converted into image. Thanks.]

Niicss · Posted: Tue Apr 14, 2009 2:20 am Post subject:

Hi mtgfixit

Borrowers can apply for loan modification or forbearance when they are delinquent on their mortgage payments. In case of forbearance, the lender will suspend or reduce the borrower's payments for few months depending upon his/her financial situation. If a borrower applies for modification of the loan, then the lender may reduce the interest rates but increase the loan term. Moreover, in case of mortgage modification, the lender may add the past due payments while offering an alternative payment plan.

Thanks.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

What is the difference between a Loan Modification and Forbearance?