PTE Multiple-Choice:
Read the text and answer the multiple choice question by selecting the correct response. Only one response is correct.
These days, using loan modification programs has swiftly turned out to be the preeminent alternative for property holders facing foreclosure of their homes. These modifications might not be the lone alternative for property owners seeking to keep away from foreclosure as a result of tardy credit payments. Nevertheless, it is an alternative which can protect your property while providing you a mortgage which you can manage to pay for.
You may wonder how using loan modification programs can be helpful and who is entitled for loan modifications. There are various options available for you to choose from. The most widespread and commonplace modifications for loans are decreasing the rate of interest programs. These programs reduce the core balance. They set interest rates that are modifiable. These allow defaults on payments and fees to be forgiven – either independently or in combination’s of both.
Loan modification programs can be helpful for property holders who cannot get refinancing and do not have the funds for their existing credit payments. Obtaining loan modifications, which are approved for distressed home loans, might be of help to bring the process of foreclosure to a standstill. A modification to loans using the help of an attorney specialized in modifications may possibly produce a more constructive loan modification accord compared to what your normal finance lender can put forward to you directly.
To whom Loan modification programs are really very helpful?
A. Who take loan with the help of an attorney specialized in modifications
B. Who compare with normal finance lender
C. Who keep away from foreclosure
D. Do not have the funds for their existing credit payments
Answer:
D. Do not have the funds for their existing credit payments
