What is a Loan Modification?A loan modification is the process or changing or completely rewriting the terms of your mortgage in order to create a payment plan that you can actually afford. A loan modification is not refinancing in the traditional sense. There are many variations of loan modification and we are experts in helping you find the one that right for you.
Most lenders require an detailed and exacting financial package from the borrower in order to consider if the applicant is right for a loan modification. The lender will take the time to review your unique situation and determine if your hardship qualifies you for a loan modification and lower your payments. There are a few other alternative to loan modification and your lender may wish to consider these as well.