what does modification mean
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modification noun. 1  The act or process of modifying or the condition of being modified. 2  A change or a result produced by modifying: new modifications in the car's design.
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Contract Modification Law and Legal Definition Contract modification refers to mutually agreed changes or alterations made to a contract. A contract modification may introduce or cancel specifications or terms of an existing contract, while leaving its overall purpose and effect intact. Contract modification is also called contract amendment.
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- What is a Loan Modification and Do I Qualify? Description of a Loan Modification. A loan modification is a re‐structuring of your current loan term, interest rate, and/or payments. Occasionally, some of the principal balance of your existing loan may be forgiven and/or your loan term. could be extended. These new terms are meant to provide you with an opportunity to stay in your.
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- modified | definition: changed in form or character | synonyms: altered, varied, restricted, qualified, adapted
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Definitions &Translations Wiktionary (0.00 / 0 votes) Rate this definition: modification (Noun). the act or result of modifying or the condition of being modified. modification (Noun). an alteration or adjustment to something. modification (Noun). a change to an organism as a result of its environment that is not transmissable to offspring.
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Modifiy a Mortgage: What Does it Mean? As to what a loan modification is… it’s simply the lender modifying the terms of your existing note for a short period of time (usually 3-5 years).This is only done after you have shown a hardship (which basically means that you can’t afford your current payment but you could afford a lower payment).o answer the second (and simpler) part of your question, a loan modification does not have any fees associated with it. You can pay a company a fee to do it for you but I would advise against this under most circumstances.
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- (plural modifications). 1  the act or result of modifying or the condition of being modified. 2  an alteration or adjustment to something. 3  a change to an organism as a result of its environment that is not transmissable to offspring.
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amendment Amended documents, when properly executed (signed by all parties concerned), retain the legal validity of the original document. For construction or supply contracts, amendment refers to change made before the contract is awarded, any change made afterwards is called modification.
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Body modification In many ways self-mutilation is very different than body-modification. Body modification gives one the feeling of pride and excitement, giving one something to show off to others. Alternately, those who self-mutilate typically are ashamed of what they've done and want to hide any evidence of harm.
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Variation noun, plural: variations. (1) A difference or deviation (e.g. in structure, form, function) from the recognized norm or standard.(2) A modification in structure, form or function in an organism, deviating from other organisms of the same species or group.(3) Mutant; an organism possessing characteristic(s) as a result of mutation.oun, plural: variations. (1) A difference or deviation (e.g. in structure, form, function) from the recognized norm or standard.
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- Behavior modification is the application of experimentally established principles of behavior to problems of behavior. Currently, it draws most heavily from studies, not theories, in the areas of learning and motivation, although behavior modification is not restricted to these areas.
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modify change, alter, vary, modify mean to make or become different. change implies making either an essential difference often amounting to a loss of original identity or a substitution of one thing for another. changed the shirt for a larger size; alter implies a difference in some particular respect without suggesting loss of identity.
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- Correction (noun) the act of reproving or punishing, or that which is intended to rectify or to cure faults; punishment; discipline; chastisement Correction (noun)
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alteration- definition and synonyms [uncountable] the process of making a change in the appearance or form of something. Reconstruction or alteration of the flat without the landlord ’s permission is forbidden. Synonyms and related words. The process of changing or making changes: game-changing, transition, conversion...
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Mortgage modification Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e. mortgagee and mortgagor).In general, any loan can be modified, and the general process is referred to as loan modification or debt rescheduling.ortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e. mortgagee and mortgagor).
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Contract Modification Law and Legal Definition 1.Bilateral modification: Contract modification that is signed by a contractor and a contracting officer. Bilateral modifications are used to: a. Make negotiated equitable adjustments resulting from the issuance of a change order;
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Definitions &Translations Modification (noun). the act of modifying, or the state of being modified; a modified form or condition; state as modified; a change; as, the modification of an opinion, or of a machine; the various modifications of light.
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GM basics genetic modification is achieved by altering dna or by introducing genetic material from one organism into another either from a different variety of the same species or a different species altogether
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change • ADAPT (verb). The verb ADAPT has 2 senses: 1. make fit for, or change to suit a new purpose. 2. adapt or conform oneself to new or different conditions. Familiarity information: ADAPT used as a verb is rare.
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Common Mortgage Servicer Violations in Loan Modifications With a loan modification, the lender may agree to do one of more of the following to reduce your monthly payment: reduce the interest rate; convert from a variable interest rate to a fixed interest rate, or; extend of the length of the term of the loan. Generally, to be eligible for a loan modification, you must: show that you cannot make your current mortgage payment due to a financial hardship; complete a trial period to demonstrate you can afford the new monthly amount, and
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Bermuda's Economy What does a step loan mean in a loan modification? A step-rate modification states that you will have a changing interest rate. For example, the first 5 years, your interest rate will be 2%, the 6th year will be at 3% and be … ginning the 7th year, you'll pay a fixed interest rate of 4%.ou have to apply to your lender for a loan modification. Some people use attorneys to make application on their behalf, and others choose to go the do it yourself mortgage m … odification route. If you decide to do your own home loan modification, make sure you get your paperwork correct.
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- Here is the good, the bad, and the ugly about mortgage modification. The Good. The good thing about mortgage modification is that it can help you stay on your feet. Mortgage modification is designed as an alternative to foreclosing on a house or filing bankruptcy. If you are in deep, you will need help from somewhere.
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modify : to change some parts of (something) while not changing other parts. 1  We can help you modify an existing home or build a new one. 2  He modified the recipe by using oil instead of butter. 3  modify a plan.  She has modified her views on the 1  matter. The design was modified to add another window.  We played a modified version of our favorite game.
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Weather modification Weather modification researchers may aspire to eliminate or control dangerous types of weather such as this. Weather modification is the act of intentionally manipulating or altering the weather. The most common form of weather modification is cloud seeding to increase rain or snow, usually for the purpose of increasing the local water supply.
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- from The American Heritage® Dictionary of the English Language, 4th Edition. adj. Causing avoidance of a thing, situation, or behavior by using an unpleasant or punishing stimulus, as in techniques of behavior modification.
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What is 'Loan Modification' A loan modification agreement is different from a forbearance agreement. A forbearance agreement provides short-term relief for borrowers who have temporary financial problems, while a loan modification agreement is a long-term solution for borrowers who will never be able to repay an existing loan.