Mortgage Minute: What is a loan modification and why would you want that option?

As you know, interest rates are higher now than they have been in years. If your mortgage has a loan modification option, you may be able to go back to your bank and ask for a lower interest rate without going through the hassle and cost of refinancing the loan. Doug tells you more about this option and how it might benefit you. For a free copy of Doug's book on buying a home, go to www.DougCrouse.com.