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Old 07-20-2011, 06:45 AM
Jimlehrer Jimlehrer is offline
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Join Date: Jul 2011
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Default American Bank Loan Modification Plan

A Bank of America Mortgage Modification is, essentially, a home loan “makeover”, by which a number of relation to a home loan contract are revamped, typically resulting inlower monthly obligations and/or a repayment plan that better fits inside the homeowner’s means.

The good thing about a home loan is it costs the homeowner nothing, unlike a mortgage refinance, which could create a new contract but leave homeowners saddled with extra settlement costs and costs.
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