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Line 3:
Line 3: − + − [[Category:Banksters]] − [[Category:Banks]] − [[Category:Finance]] − [[Category:Economics]]
fix cats
When a homeowner is unable to make payments on his or her [[mortgage]], the [[lender]] can seize and sell the property as stipulated in the terms of the [[mortgage]] [[contract]]. To avoid foreclosing on a home, [[creditor]]s may agree to make adjustments to the repayment schedule to allow the homeowner to retain ownership. Those adjustments are known as a special forbearance or [[mortgage]] modification.
When a homeowner is unable to make payments on his or her [[mortgage]], the [[lender]] can seize and sell the property as stipulated in the terms of the [[mortgage]] [[contract]]. To avoid foreclosing on a home, [[creditor]]s may agree to make adjustments to the repayment schedule to allow the homeowner to retain ownership. Those adjustments are known as a special forbearance or [[mortgage]] modification.
==See Also==
==See also==
* [[Real estate]]
* [[Real estate]]
[[Category:Legal Terms]]
[[Category:Legal Terms]]
[[Category:Real Estate]]
[[Category:Real Estate]]