What are Loan Modifications?
Loan modifications are charges to your loan agreement. Your payments will become more affordable and you will not have to default ion your loan. The banks offer loan modifications, as it is easier for them to work with you rather than chase you.
If you stop making your payments, then the bank has a few options in front of them. The bank can try and repossess your property like your home, they can try and collect with a bank levy or through a wage garnishment, – Read more