A loan modification is an agreement between a borrower and a lender to permanently change the terms of a mortgage. You'll need to prove financial hardship in order to qualify for a loan modification.

Natalie Campisi is a senior journalist who covers personal finance, balancing timely news with in-depth enterprise reporting. Her mission is to make complex financial issues clear and accessible for ...

In the post-pandemic era, mortgage rates hit their highest level in years as the Federal Reserve raised the benchmark interest rate to fight inflation. Compare your top mortgage loan rates now. "As ...

Discover the benefits and drawbacks of loan modification programs, eligibility requirements, and alternatives for struggling homeowners. Learn more today.

You may be able to change the terms of your home loan if you're in default or approaching it. You'll need to contact your loan servicer to get a loan modification. Modification options can include ...

A loan modification is a change to your original loan terms. You may request a loan modification if you can no longer afford your monthly payments, but it’s important to know what you’re getting into ...

If you're struggling with mortgage payments, a loan modification can change the terms of your mortgage without refinancing. Some or all of the mortgage lenders featured on our site are advertising ...