A loan modification and a mortgage refinance generally address the same desire: to lower the monthly payment on your home. However, the two options are intended for homeowners in very different ...

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 ...

A mortgage modification can help you get better terms on your home loan if you’re struggling to make payments. The Flex Modification program is designed to help homeowners who have mortgages that are ...

A loan modification is 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 ...

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.

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 ...

A loan modification is a change to your original loan terms. You can request a loan modification from your mortgage lender if you can no longer afford your monthly payments, but it’s important to know ...