A Balance or principle reduction program is a great alternative to a loan modification for several reasons. First your loan is actually paid off at a reduced price and restructured to create am much more manageable monthly payment and balance. A lower monthly payment allows you to keep and stay in your home, and the lower balance will allow you to sell your home if you choose.
Second a balance reduction is a permanent solution to being upside down in your loan, not a temporary fix like most…
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Posted on September 17, 2010 at 10:12pm