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Everything You Need To Know About A Loan Modification Loan Modification refers to a change in the terms of a loan, typically the interest rate or the repayment schedule. So, when do you need a Loan Modification? When you are unable to cater to the original terms of your loan/ mortgage and are facing fore closure, you can turn to Loan Modification as a solution. If you are having trouble repaying your mortgage installments on time, you can approach...... Similar Editorial : by Dr.Eswararamanan VR. | Source : Money Debt Help