What is Mortgage Modification?
I am curious as to the differences between mortgage modification and a refinance. Which is better for me? by james8390 from Miami, Florida. Jul 29th 2010
Matt Davis (Matt Davis)
#151 ranked lender in California - 52 contributions
Hi James,A modification can chnage the terms of your existing loan without incurring any cost, that is if you go direct to your lender or the Hope for Homeowners program. To refinance, you would most likely incur charges and still not get a rate as low as what you may be able to obtain through a modification.Best,Matt Davis
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