When you apply for a mortgage modification, one of the key components of the loan mod package is the hardship letter that explains why you're making the request. Learning the proper format and ...

Loan modifications have been jumping according to data from CRED iQ and are on track to expand beyond the record in 2023. As of the end of May 2024, about $22 billion in loans received modifications ...

CRED iQ’s research team has been closely monitoring loan modifications during this period of significantly elevated interest rates. As expected, loan modifications surged in 2023 as borrowers worked ...

ATLANTA - Let’s say you bought your present home in November of 2018, just about a year ago. You wanted a fixed-rate loan, so you selected a reputable lender, who offered a 30-year loan fixed at 4.75% ...

If you’re looking for better mortgage terms, loan modification and refinance can be viable options to improve your financial health. Financial struggles can happen to anyone, but homeowners have ...

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 ...

Loan modifications offer one strategy to prevent mortgage foreclosures by lowering interest rates, extending loan terms and/or reducing principal balance owed. Yet we know very little about who ...

The Obama Administration is gearing up to play hardball with mortgage companies that only temporarily lower struggling homeowners’ monthly payments. But as the drive to make more loan modifications ...

Increasing demand from upside-down homeowners, pending new federal incentives and the tight credit market are creating an unmet need in real estate finance: loan modifications. New private companies ...

The purpose of this letter is to address questions regarding whether adverse action notices under Regulation B (Equal Credit Opportunity) are required for mortgage loan modification declinations, ...

I applied for a modification of my home loan due to the uncertainty of my job. It’s a regular 30-year mortgage with a rate of 5.25%. I owe $370,000 on it. I found out last year, after talking to a few ...

For the first weeks of the coronavirus crisis, mortgage servicers were in triage mode. As the government issued a flurry of measures to deal with financial hardships resulting from widespread economic ...