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 ...

Want to get a loan modification on your mortgage? First, you have to pass the NPV test. The test is filled with secrets and uncertainties, though the grading is simple: You either pass or fail. Pass, ...

Mortgage loan modification is a type of restructuring for homeowners facing financial hardship and having a tough time making their mortgage payments. Many borrowers request a home 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 ...

Lender Processing Services Inc., a provider of integrated technology and services to the mortgage and real estate industries, has announced the release of Home Affordable Modification Program (HMP) ...

Owning a home is a huge financial responsibility and many homeowners have probably found themselves at a point where they’ve struggled to make their mortgage payments. Unexpected life events hit ...

The Federal Housing Administration (FHA) is working to expand the COVID-19 loss mitigation program to include the option of a 40-year loan modification with a partial claim, an acknowledgement that ...

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input.