top of page

Loan Modification

Homeowners facing a major financial hardship that could lead to a foreclosure may work with a lender to get a loan modification — sometimes called a mortgage modification, workout plan or restructuring — which will change the terms of the mortgage loan so the borrower can afford the payments.

In a mortgage modification, the homeowner convinces the lender to renegotiate the terms of the mortgage in order to make the payments more affordable.

bottom of page