The home loan modification Making Home Affordable was created to help home owners avoid foreclosure and stay in their homes.  The issue at hand is that no one really knows what their options are when it comes to home loan modification.  What exactly makes a home loan modification any different from a mortgage refinance?  These are questions that we all want to know but no lenders are willing to give a definite answer.

The intention of the home loan modification process is to lower monthly mortgage payments so home owners are not spending all of their income on their home loan.  Unfortunately some home owners feel that paying other bills are much more important than paying their mortgage payment.  This is a horrible mindset to have but some uneducated adults feel that paying off credit cards is more important than making a mortgage payment.

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