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To be effective, modifications must reduce a loan's interest rate or balance or extend its term, or some combination of the three.
Similar(59)
He must reduce his group's debts.
We must reduce our costs as we reduce our capacity.
Our government simply must reduce its expenditures.
We must reduce the five-point gap".
c) We must reduce our headcount by 15-20%.
We must reduce the deficit.
They think we must reduce consumption and reduce population.
We must reduce this prevalence.
Modifications must be similarly licensed.
Under the Treasury program, borrowers who receive loan modifications must make their new payments on a trial basis and then submit new paperwork validating their income to make their modifications permanent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com