Loan Modifications Posted on May 5, 2010 by socialmedia by If you’re considering selling your home because of difficulties making mortgage payments, contact your lender to see if it has any programs that can help you stay in your home. Many lenders today may consider modifying the loan to avoid a short sale or foreclosure. A loan modification from your lender might include: Refinancing your loan at a lower interest rate Providing a different payment plan to help you catch up Providing a forbearance period if your situation is temporary If a loan modification isn’t available or not enough to relieve your situation, a short sale might be your best option if your lender is willing to try a short sale. Click here to view more information about the real estate market. Categories: Real Estate News Comments are closed.