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	<title>RentToOwnNC</title>
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	<lastBuildDate>Mon, 06 Feb 2012 10:35:49 +0000</lastBuildDate>
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		<title>Why Apply For a Home Loan Modification?</title>
		<link>http://www.renttoownnc.com/why-apply-for-a-home-loan-modification/2327/</link>
		<comments>http://www.renttoownnc.com/why-apply-for-a-home-loan-modification/2327/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 10:35:49 +0000</pubDate>
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				<category><![CDATA[Bad Credit Loans]]></category>
		<category><![CDATA[Apply]]></category>
		<category><![CDATA[Home]]></category>
		<category><![CDATA[Loan]]></category>
		<category><![CDATA[Modification]]></category>

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		<description><![CDATA[Tweet A home loan modification changes your loan terms without refinancing for a new loan. It requires negotiations (discussions) between you and your lender. The terms of your loan are restructured to fit your current financial situation. Reasons to modify your loan are: · To lower your interest rate, · To reduce your high payment, · To reduce your principal balance, · To change your adjustable rate to a fixed rate, · To increase your loan term, · To assist you for missed payments, penalties and fees, · To provide temporary assistance to skip or reduce mortgage payments · To bring property tax and insurance payments current, · To stop foreclosure on your home, · To assist you with any type of financial hardship, · To prevent you from being thrown out on the street, · To get you out of a negative amortization loan, or · Any combination of the above. Due to today&#8217;s real estate market and the economy, all homeowners should ask their lender for a loan modification, whether they are facing foreclosure or not.You do NOT have to be behind on your payments to request a home loan modification. Many homeowners get depressed and struggle to negotiate with a lender. The lender has certain guidelines they must follow, so a better term than &#8216;negotiate&#8217; is &#8216;discuss&#8217;. [...]]]></description>
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