Save It or Sell It
Can a Loan Modification Help You Keep Your Home?
Answer a few questions about your mortgage, hardship, income, property, and foreclosure status to understand whether a complete loan modification review may be worth exploring.
Hardship ReviewIncome Snapshot
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Your Loan Modification Review
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1. Status2. Hardship3. Property4. Finances5. Loan6. Contact7. Results
Loan Modification Document Checklist
Common documents that may be requested during a loss-mitigation review.
Income
Mortgage and Property
Hardship
Loan Modification University
Plain-English explanations of the loss-mitigation process.
What Is a Loan Modification?＋
A loan modification changes one or more terms of an existing mortgage, such as the interest rate, payment, term, or treatment of arrears. Read Full Lesson →
Loan Modification vs. Forbearance＋
Forbearance usually pauses or reduces payments temporarily. A modification changes the mortgage terms more permanently. Read Full Lesson →
What Is a Trial Payment Plan?＋
Some programs require successful trial payments before permanent modification documents are issued. Read Full Lesson →
How Do Servicers Review Applications?＋
Servicers may review hardship, income, expenses, occupancy, loan type, investor rules, escrow, arrears, and document completeness. Read Full Lesson →
What Happens After a Denial?＋
A borrower may be able to correct missing documents, appeal, request reconsideration, explore another option, or consult an attorney. Read Full Lesson →
Loan Modification Scams＋
Be cautious of guarantees, pressure to stop paying, instructions to ignore your servicer, or requests to transfer title. Read Full Lesson →