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How do lenders determine which loans are prioritized for modification?

April 26, 2017determine lenders Loans modification prioritized

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How do lenders determine which loans are prioritized for modification?

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Most lenders prioritize the most delinquent loans or in default in order to prevent further losses as a result of a possible foreclosure on the property. Majority are sending notices to their clients currently behind with their mortgage. If you don’t receive any communication from your lender but feels that you need to modify your loan, contact your lender right away in order to prevent foreclosure.