Paul L. Underwood is a writer and editor specializing in finance whose work has appeared in The New York Times, Esquire, Texas Monthly and more. Paul lives in Austin, Texas, with his wife, two ...

(NewsNation) — Those struggling to make mortgage payments can avoid foreclosure through a loan modification. If approved, the structure and interest rate are often changed to make the mortgage more ...

A loan modification is often billed as a lifeline for homeowners in trouble. But if you ask Johnnie Jefferson, an 85-year-old resident of Richmond, TX, she’d tell you that a loan modification has ...

If you’re seeking more affordable mortgage payments, a loan modification or a refinance could both help. Loan modifications are for homeowners experiencing financial hardship who are unable to make ...

WASHINGTON, Feb 17 (Reuters) - A government program to help struggling homeowners modify their mortgages has almost a million active borrowers, but just over 3 percent of the eligible borrowers have ...

The Obama Administration is gearing up to play hardball with mortgage companies that only temporarily lower struggling homeowners’ monthly payments. But as the drive to make more loan modifications ...

Loss mitigation is a way for mortgage lenders to help borrowers who are struggling to make their monthly payments avoid losing their homes. You can keep your home with many loss mitigation options, ...

Loan modifications and short-term loan extensions have been popular tactics among borrowers and lenders on loans backing properties facing vacancy and value declines since the pandemic. A staggering ...

Servicers face tough decisions on when to record loan modifications as defaults increase, state laws vary, and the Uniform Mortgage Modification Act gains traction.

A 40-year mortgage extends the loan term an additional decade longer than a typical 30-year mortgage. Most lenders don’t offer 40-year mortgages. A 40-year mortgage can come in fixed-rate, ...