Loan Modification Facts
Throughout the standard progression of a mortgage, borrowers make principal and interest payments until the debt has been paid off. Normally, the property has a lien until the mortgage has been paid back fully to the lender. If the debtor sells before the maturity of the loan, he needs to remit the unpaid balance to the lender in order to get the lien released.
Generally, any change to the terms of the original agreement is a modification. However, in legal terms it refers to two scenarios: A mandate to creditors by the government, or the re-structuring of payment terms based upon the inability of the debtor to stay current on payments. A proper loan modification usually changes the interest rate, monthly payment amount, outstanding principal or the terms of the original agreement.
A proper mortgage modification involves changing the original terms of the loan as they were agreed upon by borrower and lender. Typically, any mortgage can be altered via a modification agreement. This process is called debt rescheduling or loan modification.
Loan Modification Leads
It’s important to obtain leads from trusted vendors. As a lead generation service, our focus is on mortgage and loan mod leads. Obtain the best aged and real-time leads in the business. If you’re not satisfied, we provide a lead exchange. Each lead is late on loan payments and has chosen to obtain information (opted in).
Loan Mod Leads
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