You may avoid foreclosure by modifying the terms of your mortgage. This may invo…
You may avoid foreclosure by modifying the terms of your mortgage. This may involve a combination of reducing the interest rate, extending the term of the loan, and capitalizing any arrears (i.e. adding the arrears to the remaining principal balance). Working with a loan restructure lawyer can help homeowners to maintain their property and prevent their credit score from taking any additional hits.
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