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What’s the difference between a Loan Modification and a Refinance?

April 26, 2017difference loan modification Refinance

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What’s the difference between a Loan Modification and a Refinance?

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Opposed to a refinance you are “modifying” your existing loan. Your lender and account number will not be changed through a loan modification. You are not able to change vesting on title, pull cash-out, or consolidate debt through this process. You are simply requesting assistance in order to afford a reasonable mortgage payment.