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A home loan modification letter, sometimes also called a hardship letter, is a request from a borrower to a lender to change the terms of a home loan. Borrowers typically write these letters when they can no longer affor... More »

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A mortgage loan modification, in which certain terms of a borrower's loan are permanently altered, is permissible for only one time within 24 months and requires particular financial analysis criteria, such as a verifiab... More »

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Bankrate reports that the new payment after a loan modification may be calculated by applying the new interest rate to the remaining loan balance. Other fees, such as closing costs for a mortgage refinance, may also fact... More »

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A loan modification letter is a written request from a borrower to a lender to change the terms of the loan from the previously agreed contract, according to Loansafe.org. Borrowers usually request loan modifications due... More »

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A mortgage payoff letter is a letter from a mortgage lender that explains to the borrower how to pay off the home loan. As the end of a loan agreement approaches, the borrower requests a mortgage payoff letter in order t... More »

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A request for modification affidavit form is a form submitted to a lender by a borrower when the borrower is experiencing financial difficulties and must ask the lender to modify the terms of his mortgage, the Mortgage R... More »

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Consumer Finance notes that a lender has approximately five business days to acknowledge a borrower's request, beginning on the date that the letter is received. After that, the lender generally has up to 30 business day... More »

www.reference.com Business & Finance Credit & Lending