A Circuit Breaker is a local program designed to offer rebates or reductions in a homeowner’s property tax based on specific criteria such as age, income status, or other qualifying factors. These programs aim to provide tax relief especially to vulnerable groups like the elderly or low-income residents.
Mortgage modification refers to the process of making permanent changes to the terms of an existing loan agreement between a borrower and a lender. This is intended to make the loan more affordable for the borrower to avoid foreclosure.
