LoanModificationHelpLine.org - Helping Americans To Save Their Homes: "Get A Principal Reduction
Is your mortgage underwater? Consider asking your lender for a principal reduction. Principal reduction is a process whereby your loan modification professional assists in negotiating down the total amount of the principal that you owe on the loan. Typically, when your principal balance is lowered, you're able to reduce your mortgage payment as well. Principal reduction is very difficult to achieve as lenders typically show zero or very little interest in performing a principal reduction. Often, a lender will even avoid mentioning principal reduction as a viable option! "
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