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Aryan Mayer
Mathematics
26 June, 01:13
How do lenders benefit from loan modification?
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Isaiah Berger
26 June, 01:32
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The lender reduces the amount of principal that the borrower owes, with no expectation of repayment. Debt Forgiveness is analogous to a principal reduction. This is a more effective way to reduce payments than either lowering the interest rate on the mortgage, or extending the terms.
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