How many times can you do a loan modification?
I've done a loan modification in 2008. Is it possible to do another to keep the same interest rate?
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Answer by brett j
Yes you can do another loan modification IF a lender will approve you. Remeber that you will be charged again which means more equity pulled out of your home. Your LTV (loan to value) will be higher than in 2008 so it will be more difficult to receive a lower interest rate. Many more negatives than positives right now.
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Cherestal Jean Yves, shop keeper, beneficiary of a loan, Haiti
Image by Oxfam International
Cherestal Jean Yves, shop keeper, has received a grant/loan, through an Oxfam Business development program.
"There are many organizations here in Carrefour Feuilles but Oxfam is number one because it doesn't just give: it shows us how to do things. There is a saying 'You can give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.' Oxfam not only gave us money to start businesses it provided business training, showing us, for example, how to manage our money and not going out and spending it all at once," says Cherestal.
More on Oxfam's response in Haiti
Orignal From: How many times can you do a loan modification? and Cherestal Jean Yves, shop keeper, beneficiary of a loan, Haiti
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