________ is a re-writing of the terms of the original mortgage loan to make the monthly payments more affordable by extending the number of years payable or the interest rate charged on the loan.

Question

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Loan modification is the process of renegotiating the terms of the original mortgage loan to make it more affordable for the homeowner. This can involve extending the repayment period, reducing the interest rate, or changing other terms of the loan to make it more manageable for the borrower. This is often done to prevent foreclosure and allow the borrower to remain in their home.

________ Is a Re-Writing of the Terms of the Original