Discover how loan modification can help you avoid foreclosure, understand government programs available, and learn the steps to apply effectively.

A mortgage loan modification can offer an opportunity for borrowers to get their monthly payment on their mortgage reduced to an amount they can afford. A mortgage loan modification may extend the ...

Loan modifications are a long-term mortgage relief option for borrowers experiencing financial hardship, such as loss of income due to illness. A modification typically changes the loan’s rate, term ...

In the post-pandemic era, mortgage rates hit their highest level in years as the Federal Reserve raised the benchmark interest rate to fight inflation. Compare your top mortgage loan rates now. "As ...

The Federal Housing Administration (FHA) announced this week that a final rule related to an increased 40-year loan modification term has been published in the Federal Register. The rule allows ...

A question we’ve received from clients with increased frequency is whether they can forgo recording their loan modification agreement in certain circumstances or jurisdictions without jeopardizing ...

A loan modification is an agreement between a borrower and a lender to permanently change the terms of a mortgage. You'll need to prove financial hardship in order to qualify for a loan modification.

The Flex Modification program helps homeowners experiencing financial hardship to extend their loan term and reduce principal and interest payments. The program can reduce payments by up to 20 percent ...

FHA first proposed the 40-year loan modification on April 1. The new option is intended to help borrowers who can’t achieve a minimum targeted 25% reduction in the principal and interest (P&I) portion ...

NEW YORK, March 22 (Reuters) - Fannie Mae, the largest provider of funding for U.S. residential mortgages, is easing some requirements on income documentation for borrowers to receive loan ...

This is the third time Ginnie Mae has made changes intended to help homeowners transition from forbearance. The Government National Mortgage Association, or Ginnie Mae, said late Friday that it has ...

The Obama administration set loan-modification guidelines for its $75 billion homeowner rescue plan, agreeing to pay lenders for altering troubled mortgages while reducing borrowers’ interest rates to ...