Will a home loan modification lower your payments?

In: Mortgage 20Jun2009 by Daniel R. MichaelsonRight now the country is seeing record high foreclosure rates. People across the nation are literally walking away from their homes and letting them go back to the bank. The important thing to realize here is that the banks do not want the homes back. Banks are not in the real estate business, they are in the banking business. Why is this important? If you are in a situation where your mortgage payments are too high due to a financial difficulty, a

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Will a home loan modification lower your payments?