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Mortgage modification is much less damaging to your credit score score (opens new window) than a foreclosure (opens new window) You may stay in your home and keep away from foreclosure. You wouldn't want to hold them much longer than that anyway, as a result of interest rates for arduous money are usually higher than they are for traditional loans. Let's represent the payday service of I Need Cash Now. Many lenders are keen to renegotiate your loan when you have an unexpected financial problem. At 12M Loans , it's essential to guantee that all lending is affordable, and that is why ALL our lenders will check credit backgrounds of candidates. Most exhausting money lenders have a ceiling of 70%-seventy five% (in fact I've heard rumors of onerous money lenders going higher) of the current worth of the property or of the A.R.V. (after restore worth, more on that in the subsequent section) they need you to go away fairness in the property. 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