An alteration in the loan terms, typically in the term itself or in the interest rate, as an acknowledgement that the borrower cannot make the payments as outlined in the current contract.
Related information about mortgage modification:
- Mortgage modification - Wikipedia, the free encyclopedia
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 ...
- Making Home Affordable
... are permanently displaced by a job related move may still qualify as owner- occupants, which means you may still qualify for a HAMP mortgage modification.
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- Borrowers looking to score mortgage modification
Homeowners who can't pay their mortgage can get a better deal from the lender. But it's a complex process.
- Loan Modification Frequently Asked Questions - HUD
A Loan Modification is a permanent change in one or more of the terms of a Borrower's loan, allows the loan to be reinstated, and results in a payment the ...
- Loan Modification, Mortgage Modification, Mortgage Restructuring ...
Learn about loan modifications, who is eligible for a loan modification, how to get a loan modification, and the benefits to lenders and borrowers. Find out how ...
- When to Say No to a Mortgage Modification - ABC News
Mar 11, 2012 ... You read the headline right. As shocking as it may sound, sometimes it may in fact make sense to say no to a mortgage modification, even ...
- Answers to Questions About New Mortgage Modification Program ...
Mar 26, 2010 ... 6:30 p.m. | Updated to add new detail and questions and answers. The federal government announced new initiatives on Friday to help people ...