Has anyone recently applying for a loan modification received a principal balance reduction from Chase or just lower interest and balloon payment?

Asked by Justine Kesary, San Diego, CA Sat Mar 16, 2013

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Keith Jean-P…, Agent, East Brunswick, NJ
Sat Mar 16, 2013
Principal balance reduction is very rare. It happens, but the most common mortgage modification is a lower interest rate to reduce your payment to something more managable. Good luck!
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