Loan Modifications and Other Forms of Loss Mitigation

Do’s and Don’ts for Getting a Loan Modification

Learn what to do—and what not do—in the loan modification process.

Common Mortgage Servicer Violations in Loan Modifications

Mortgage servicing companies sometimes make serious errors when processing loan modification requests.

How to Get a Mortgage Loan Modification

If you're struggling to pay your mortgage, you might be able to get a loan modification that will lower your payments.

Loan Modifications for Fannie Mae and Freddie Mac Mortgages

Fannie Mae and Freddie Mac offer loan modifications to eligible borrowers.

What Does “Loss Mitigation” Mean?

“Loss mitigation” is what the mortgage-servicing industry calls the process where borrowers and their loan servicer work together to avoid a foreclosure.

Legal Violations in the Loan Modification Process Might Delay a Foreclosure

If your loan servicer violated the law in the loan modification process, you might have a defense against a foreclosure.

Why You Should Avoid Foreclosure Bailout Loans

Getting a foreclosure bailout loan might seem like an easy way to stop a foreclosure. But that money usually comes at a steep price.

What's the Difference Between a Forbearance Agreement, Repayment Plan, and Loan Modification?

Forbearance agreements, repayment plans, and loan modifications are different ways that borrowers can avoid foreclosure.

My bank denied my mortgage modification application in California. Can I appeal?

In most situations, if your servicer denies your first lien loan modification application in California, you can appeal.

Should I Hire a Lawyer to Help With My Mortgage Modification?

Tips on when you should consider hiring an attorney to help you with a mortgage modification application.

Should I stop paying my mortgage so I qualify for a loan modification?

You don't have to default on mortgage payments in order to get a loan modification, and it's a bad idea to do so.

Do I Have to Make a Lump-Sum Payment When My CARES Act Forbearance Ends?

In most cases, you don't have to make a lump-sum repayment at the end of a CARES forbearance—even if your loan servicer tells you otherwise.

What's the Difference Between a Forbearance Agreement, Repayment Plan, and Loan Modification?

Forbearance agreements, repayment plans, and loan modifications are different ways that borrowers can avoid foreclosure.

Mortgage Payment Deferral for Freddie Mac and Fannie Mae Mortgages

Homeowners with Fannie Mae and Freddie Mac loans have access to specific mortgage-relief options after suffering a financial hardship due to COVID-19, including payment deferral programs.