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Stop Foreclosure - Your Credit Scores May Be Zapped by A Loan Modification The focus of loan modifications is to help people facing foreclosure save their homes. Through the Making Home Affordable Modification Program and many other programs the modifications are accomplished by lowering the monthly payments on loans to amounts that the people can afford to make. The mortgage company normally does this by lowering the interest rate on the loan. [VIEW ARTICLE]Comments RSS Feed For This Article: 
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Subject: Great information
You bring up a very good point that while a mortgage payment may be reduced for a borrower, the cost of the credit ding can create higher rates, more difficulty qualifying etc...