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What is the Difference Between Restructuring a Mortgage (Loan Modification) and Refinancing?

Aug 16, 2016 | Michigan Foreclosure Information

Restructuring a mortgage or loan modification is not the same as refinancing it. Modifying the loan allows you to edit the terms of the existing mortgage, such as principle balance, interest rate, PMI (private mortgage insurance) and length of the loan, with the...
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