What is a Restructured Loan?

Do you plan to stay in this home for many years irrespective of price of the house. If so, try to restructure the loan. Restructured Loan is a loan for which the parties have agreed to alter the terms, usually to make them more favorable to the borrower. For example, the borrower may restructure a loan to receive a lower interest rate or monthly payment. Restructured loans are most common if the borrower states that he/she can no longer afford payments under the old terms. For example, a borrower may have to accept a new job with less income, forcing a tighter budget. A homeowner generally applies for a mortgage loan restructure to obtain affordable monthly payments and keep the home. If you're struggling to pay your monthly mortgage payment, you might find relief by persuading your mortgage lender to restructure your home loan.