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.

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 ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

A loan modification is a change to your original loan terms. You can request a loan modification from your mortgage lender if you can no longer afford your monthly payments, but it’s important to know ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

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 ...