USDA loans: With a USDA loan, you can modify your mortgage with an extended term of up to 40 years, reduce the interest rate ...

The Treasury Department and the Department of Housing and Urban Development have announced another attempt to streamline procedures under their Home Ownership Made Affordable Program (HAMP.) The ...

The Federal Housing Administration (FHA) this morning announced another addition to its programs designed to assist homeowners in danger of losing their homes to foreclosure. Department of Housing and ...

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input.

FHA first proposed the 40-year loan modification on April 1. The new option is intended to help borrowers who can’t achieve a minimum targeted 25% reduction in the principal and interest (P&I) portion ...

A mortgage loan modification can offer an opportunity for borrowers to get their monthly payment on their mortgage reduced to an amount they can afford. A mortgage loan modification may extend the ...

If you’re struggling to pay your mortgage, the conventional wisdom has long been to consider refinancing. Doing so has often meant a change in loan terms that can reduce monthly payments. However, ...

A question we’ve received from clients with increased frequency is whether they can forgo recording their loan modification agreement in certain circumstances or jurisdictions without jeopardizing ...

The Obama administration set loan-modification guidelines for its $75 billion homeowner rescue plan, agreeing to pay lenders for altering troubled mortgages while reducing borrowers’ interest rates to ...

A Treasury spokeswoman, Meg Reilly, confirmed that servicers had made the request and said the department "is considering it." Of course, servicers may be making excuses as they brace for the ...