A mortgage loan modification is a relief option designed for eligible borrowers experiencing financial hardships that make it challenging for them to keep up with payments. A loan modification is a formal written agreement that changes the terms of your current loan, which could include extending the length of your mortgage, changing the interest rate, or adding certain delinquent balances to the principal balance of your mortgage.

Mortgage loan modifications may use one or more of the following adjustments:

  •Changing the interest rate, which may include converting an adjustable-rate mortgage to a fixed-rate loan
  •Extending the loan repayment term to spread payments over a longer period
  •Adding certain past-due amounts and eligible advances and expenses to the unpaid principal loan balance
  •Delaying or deferring the repayment of a portion of the unpaid principal loan balance to a later date

A previous payment deferral or loan modification does not necessarily prevent you from receiving additional assistance. Eligibility depends on your current circumstances, payment history, loan type, prior assistance, and the requirements of your loan’s owner, investor, insurer, or guarantor. Contact us so we can review the options that may be available.

We recognize that homeownership can be challenging when financial difficulties arise. We are committed to helping you explore mortgage assistance options that may be available depending on your circumstances, loan type, and applicable program requirements. We will review the information you provide and explain the options for which you may be eligible. Please contact us at (877) 735-3637 to review options that may be available. Our team of experts is ready to assist you.