Loan Modification is a negotiated change in the terms of a current mortgage, to meet the updated financial situation of the homeowner and the property. A new closing is not required. This is not refinancing your loan.

A loan modification can change your interest rate, balance of loan, delinquent fees owed, and term of the loan.

Loan modification can be your best way to avoid foreclosure, and to keep your home. The Government wants to keep you in your home and is putting the full strength of the U.S. Treasury, Federal Reserve, and other agencies to help homeowners save their homes as a way to stabilize the economy.