"Mortgage restructuring" refers to the process of making changes to the terms and conditions of a mortgage loan. It typically involves modifying the payment schedule, interest rate, or loan duration to better suit the borrower's financial situation and make it more manageable. This allows homeowners to avoid potential foreclosure and helps them to continue repaying the loan in a way that fits their budget.
Full definition
Synonyms for individual words can be found below.
«mortgage»
«restructuring»
Sentences with «mortgage restructuring»
- The debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a short sale or foreclosure, qualifies for the relief granted. (massrealestatenews.com)
- A reasonable mortgage restructuring might be to cut the principal of the mortgage to $ 200,000, and to create a $ 100,000 property appreciation right. (hussmanfunds.com)
- The debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a short sale or foreclosure, qualifies for the relief granted. (massrealestatenews.com)
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