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 ...

How to apply for a loan modification The first step is to contact your mortgage servicer (the company you make monthly payments to), and specifically inquire about their loan modification programs.

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 ...

A mortgage modification is when your lender, upon request, changes the terms of your home loan to make monthly payments more affordable.

While an out-of-work person can, theoretically, get a loan modification under HAMP by proving eligibility for at least nine months of unemployment benefits, the program isn’t set up to handle ...

Mortgage modification is not a new concept, but it received renewed attention following the 2008 financial crisis. The Treasury Department established the Troubled Asset Relief Program (TARP) to ...

When deciding between loan modification and refinance, consider your financial situation to ensure a smart mortgage decision.

The $75 billion Home Affordable Modification Program, or HAMP, has resulted in the permanent modification of more than 389,000 loans, saving homeowners a median of more than $500 a month.

To bolster its effort to reduce foreclosures, today the Obama administration announced new changes to its Home Affordable Modification Program. The proposed measures include allowing unemployed ...

A loan program that can help with housing costs is flying under the radar in Berkshire County. The Home Modification Loan Program is a state-funded initiative that provides up to $50,000 in financing ...

Forget the federal loan-modification program, which has struggled to get much done.

Like the refinance program, the loan modification part of the administration program ignores negative equity and offers help only to owner-occupants. Investors are not eligible.