![](https://www.bankrate.com/2020/04/15175311/Loan-modification-vs.-refinance_-Whats-better-for-borrowers_.jpg?auto=webp&fit=crop&width=230&height=150)
Loan modification vs. refinance: Which option is best for you?
The bottom line: You can choose to refinance, but you’re forced into a loan modification.
Thomas Brock, CFA, CPA, is a well-rounded financial professional with over 20 years of experience in investments, corporate finance and accounting, and personal and small-business financial consulting.
His investment experience includes oversight of a $4 billion portfolio for an insurance group. Varied finance work includes the development of multiyear financial forecasts and KPI dashboards, credit analyses, and the evaluation of capital budgeting proposals.
Earlier in his career, Thomas managed various accounting and financial planning functions and led many transformational initiatives, including a general ledger conversion, a financial reporting system implementation, the establishment of a centralized procurement office and the execution of due diligence reviews and integrations for several multi-million-dollar merger and acquisition deals.
Beyond the corporate setting, he has assisted individuals and businesses of all sizes with accounting, budgeting, financial planning and investing matters. He has also lent his financial expertise to a few well-known websites and tutored students via a few virtual forums.
Thomas holds a Master of Business Administration from Franklin University and a Bachelor of Science in business administration from Bowling Green State University. He is a chartered financial analyst charterholder and a certified public accountant.
The bottom line: You can choose to refinance, but you’re forced into a loan modification.
Choosing the best car insurance company may be easier than you think. Start here.
You pay a lump sum now to cut future monthly payments. But there are drawbacks.
These home equity loans can be a source of cash for seniors, albeit a costly one.
Consider some alternatives before getting an instant loan.
Leasing vs. buying an EV comes down to the type of freedom you want.
It offers a way to buy a home for half off the list price. But there is a catch or two.
Here are the best S&P 500 index funds, including mutual funds and ETFs.