{"id":6672,"date":"2016-02-15T20:51:04","date_gmt":"2016-02-15T20:51:04","guid":{"rendered":"\/?p=6672"},"modified":"2020-01-15T13:02:27","modified_gmt":"2020-01-15T13:02:27","slug":"the-sticky-truth-about-loan-modifications-part-1","status":"publish","type":"post","link":"https:\/\/yourcoverageinfo.com\/finance\/loans\/the-sticky-truth-about-loan-modifications-part-1\/","title":{"rendered":"The Sticky Truth About Loan Modifications &#8211; Part 1"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Have you ever considered getting a loan modification? If so, you\u2019re not alone. Many people who fall behind on their loans are quick to turn to them, hoping they\u2019ll provide some level of relief. But, many soon realize that a loan modification wasn\u2019t quite what they expected. <\/span><\/p>\n<p><b>The Amount Owed Won\u2019t Disappear<\/b><span style=\"font-weight: 400;\">:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">A common myth behind loan modifications is thinking that the amount past due has disappeared. Yes, the payment may be lower, but that\u2019s because the lender has changed the terms of how you\u2019re borrowing for the current loan. This is in an effort to help you get back on your feet, but the amount owed has likely been tacked on to the end of the loan. You\u2019ll notice too that the loan will take longer to pay off. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t let this discourage you from getting a loan modification if you really need it. It\u2019s still a great option for those who want to get a better handle on their debts. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you ever considered getting a loan modification? If so, you\u2019re not alone. Many people who fall behind on their loans are quick to turn to them, hoping they\u2019ll provide some level of relief. But, many soon realize that a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":25047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/posts\/6672"}],"collection":[{"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/comments?post=6672"}],"version-history":[{"count":0,"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/posts\/6672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/media\/25047"}],"wp:attachment":[{"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/media?parent=6672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/categories?post=6672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourcoverageinfo.com\/wp-json\/wp\/v2\/tags?post=6672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}