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Friday, January 15, 2010

Mortgage Loan Modification

A mortgage is a special type of loan that usually lasts about thirty years.
Sometimes persons may find it necessary or advantageous to alter the terms of their mortgage because of a change in finances. This may be neceesary, for example, if someone loses their job, or if mortage rates increase, resulting in a corresponding increase in monthly payments.

You may also like this article:
Mortgage Choice: Reverse Mortgages Pros and Cons

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