Should I Use Loan Modification to Stop Foreclosure?

The Loan Modification program is to be used if you have found yourself in financial difficulties and are not able to make you monthly mortgage payment(s). Modifying your loan(s) can help whether you refinanced when the housing market was up to pay off higher interest bills or have found yourself in financial difficulties due to job loss, illness or some other unfortunate situation. Modification is not an over night solution as when your lender receives the proposed modification it has to go through the process of being approved by the holder of the loan usually called the bank.