{"id":108301,"date":"2025-12-18T11:52:17","date_gmt":"2025-12-18T19:52:17","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=108301"},"modified":"2025-12-18T11:52:17","modified_gmt":"2025-12-18T19:52:17","slug":"mortgage-loan-modification","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/mortgage-loan-modification\/","title":{"rendered":"Mortgage Loan Modification: What It Is, How It Works, and When to Use It"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Mortgage loan modification is a foreclosure-prevention option that permanently changes the terms of your existing mortgage to make payments more affordable. If you\u2019re a homeowner facing a long-term financial hardship\u2014such as job loss, a medical crisis, or divorce\u2014a modification may help you lower your <\/span><a href=\"https:\/\/www.redfin.com\/mortgage-calculator\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">monthly payment<\/span><\/a><span style=\"font-weight: 400;\"> and keep your home.<\/span><\/p>\n<p><b>Key takeaways<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A mortgage loan modification changes your current loan (it\u2019s not a refinance).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lenders usually aim to make payments affordable\u2014often around 31% of gross monthly income.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approval typically includes a 3\u20134 month trial payment plan before terms become permanent.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Requirements and outcomes vary by lender and loan type.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">What is a mortgage loan modification?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A mortgage loan modification is a permanent change to one or more terms of your mortgage\u2014such as the interest rate, <\/span><a href=\"https:\/\/www.redfin.com\/blog\/15-vs-30-year-mortgage\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">loan term<\/span><\/a><span style=\"font-weight: 400;\">, or how missed payments are handled\u2014designed to reduce your monthly payment and prevent <\/span><a href=\"https:\/\/www.redfin.com\/blog\/foreclosure-process\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">foreclosure<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Before vs. after (illustrative)<\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Item<\/b><\/td>\n<td><b>Before<\/b><\/td>\n<td><b>After<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Interest rate<\/b><\/td>\n<td><span style=\"font-weight: 400;\">6.75%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.25%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Term<\/b><\/td>\n<td><span style=\"font-weight: 400;\">30 years<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40 years<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Monthly payment<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$2,150<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,620<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Missed payments<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Past due<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Added to balance<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i><span style=\"font-weight: 400;\">Results vary by lender, investor, and borrower profile.<\/span><\/i><\/p>\n<h2><span style=\"font-weight: 400;\">How loan modifications change your loan terms<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Mortgage loan modifications may use one or more of the following adjustments:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest rate reduction, sometimes converting an adjustable-rate mortgage to a fixed-rate loan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Loan term extension (for example, 30 \u2192 40 years) to spread payments over a longer period<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Capitalizing arrearages by adding <\/span><a href=\"https:\/\/www.redfin.com\/blog\/what-happens-if-i-stop-paying-my-mortgage\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">missed payments<\/span><\/a><span style=\"font-weight: 400;\"> to the loan balance<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Principal forbearance or, less commonly, principal reduction<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Modification vs. refinance, forbearance, and repayment plans<\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Option<\/b><\/td>\n<td><b>What it does<\/b><\/td>\n<td><b>Best for<\/b><\/td>\n<td><b>Credit impact<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Mortgage loan modification<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Changes loan terms<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Long-term hardship<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Depends on payment history<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Refinance<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Replaces loan<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Stable income\/credit<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Requires qualification<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Forbearance<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Temporarily pauses\/reduces payments<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Short-term hardship<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Usually temporary<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Repayment plan<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Pays past-due amounts over time<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Temporary setback<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Depends on history<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"font-weight: 400;\">Who qualifies for a mortgage loan modification?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Eligibility for a mortgage loan modification depends on your lender, <\/span><a href=\"https:\/\/www.redfin.com\/blog\/types-of-mortgage-loans\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">loan type<\/span><\/a><span style=\"font-weight: 400;\">, and financial situation. Most servicers evaluate whether you:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have a documented, long term financial hardship that impacts your ability to pay<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Live in the home as your <\/span><a href=\"https:\/\/www.redfin.com\/blog\/primary-residence\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">primary residence<\/span><\/a><span style=\"font-weight: 400;\"> (in many programs)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have sufficient, stable income to support the modified payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Submit a complete and accurate loan modification application<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Meeting these criteria doesn\u2019t guarantee approval, but missing one often leads to denial.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Hardship types lenders commonly review<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Lenders typically evaluate whether a borrower has experienced a long-term financial hardship that affects their ability to afford the original mortgage payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Examples of hardships that lenders may consider include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Job loss or reduced income<\/b><span style=\"font-weight: 400;\"> (pay stubs, termination notice, unemployment benefits)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Medical hardship<\/b><span style=\"font-weight: 400;\"> (medical bills, insurance statements, physician documentation)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Divorce or separation<\/b><span style=\"font-weight: 400;\"> (court orders, settlement agreements)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Death of a household income earner<\/b><span style=\"font-weight: 400;\"> (death certificate, income loss records)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Natural disasters or major property damage<\/b><span style=\"font-weight: 400;\"> (insurance claims, disaster declarations)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Your hardship letter should clearly explain how the event affected your income or expenses and why the original mortgage payment is no longer sustainable.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Special rules for FHA, VA, USDA, and conventional loan modifications<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Loan modification options can differ depending on whether your mortgage is government-backed or conventional. The table below shows high-level distinctions\u2014not program-specific guarantees.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Loan type<\/b><\/td>\n<td><b>Oversight<\/b><\/td>\n<td><b>Modification structure<\/b><\/td>\n<td><b>Key notes<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Conventional<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Private investors<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Varies by investor<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Flexibility depends on who owns the loan<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>FHA<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Federal Housing Administration<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Standardized options<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Often follows defined modification \u201cwaterfalls\u201d<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>VA<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Department of Veterans Affairs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">VA-specific guidelines<\/span><\/td>\n<td><span style=\"font-weight: 400;\">May include options tied to VA loss mitigation<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>USDA<\/b><\/td>\n<td><span style=\"font-weight: 400;\">U.S. Department of Agriculture<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rural housing programs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Eligibility tied to USDA loan rules<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b><i>Important:<\/i><\/b><i><span style=\"font-weight: 400;\"> Each servicer applies these guidelines differently, and rules change over time. Always confirm available options directly with your loan servicer or a HUD-approved housing counselor.<\/span><\/i><\/p>\n<h2><span style=\"font-weight: 400;\">Pros and cons of mortgage loan modification<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A mortgage loan modification can be an effective way to lower monthly payments and avoid foreclosure, but it isn\u2019t the right solution for every homeowner. Weighing the benefits and trade-offs can help you decide whether modifying your loan aligns with your long-term financial goals.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Benefits: lower payments and avoiding foreclosure<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Loan modifications are designed to make mortgage payments more affordable so homeowners can remain in their homes.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Lower monthly payments<\/b><span style=\"font-weight: 400;\"> through interest rate reductions, term extensions, or both<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Foreclosure prevention<\/b><span style=\"font-weight: 400;\"> by bringing delinquent loans back into good standing<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Long-term payment stability<\/b><span style=\"font-weight: 400;\">, especially when rates are reduced or fixed<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In many cases, lenders aim to reduce payments to an affordable level\u2014<\/span><a href=\"https:\/\/www.redfin.com\/blog\/what-percentage-of-your-income-should-go-toward-your-mortgage\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">often around 31% of gross monthly income<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Drawbacks: total interest costs, term extension, and other trade-offs<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While <\/span><a href=\"https:\/\/www.redfin.com\/mortgage-calculator\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">monthly payments<\/span><\/a><span style=\"font-weight: 400;\"> may decrease, some modifications can increase the total cost of the loan over time.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Higher total interest paid<\/b><span style=\"font-weight: 400;\"> due to extended loan terms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Longer time in debt<\/b><span style=\"font-weight: 400;\">, sometimes extending the mortgage up to 40 years<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Added balance<\/b><span style=\"font-weight: 400;\"> if missed payments are rolled into the loan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fees or servicing costs<\/b><span style=\"font-weight: 400;\">, depending on the lender<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Possible tax implications<\/b><span style=\"font-weight: 400;\"> if a portion of the principal is forgiven<\/span><\/li>\n<\/ul>\n<p><b><i>Important:<\/i><\/b><i><span style=\"font-weight: 400;\"> Loan modifications may also affect credit and taxes differently depending on your situation. This isn\u2019t legal or tax advice\u2014consider consulting a professional.<\/span><\/i><\/p>\n<h2><span style=\"font-weight: 400;\">How mortgage loan modifications affect your credit and future options<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A loan modification doesn\u2019t automatically damage your credit, but prior missed payments often do.<\/span><\/p>\n<p><b>Credit score effects:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Late or missed payments before approval typically have the biggest impact<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The modification itself may appear on your credit report as a restructured loan<\/span><\/li>\n<\/ul>\n<p><b>Refinancing or selling after modification:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Refinancing may be possible after a seasoning period if credit and income recover<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Selling the home is still an option, but proceeds must cover the modified loan balance<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">How much can a mortgage loan modification lower your payment?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">With a mortgage loan modification, lenders often focus on <\/span><a href=\"https:\/\/www.rocketmortgage.com\/calculators\/home-affordability-calculator\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\"><span style=\"font-weight: 400;\">affordability<\/span><\/a><span style=\"font-weight: 400;\"> rather than a fixed discount. Some programs aim for payments near 31% of gross monthly income.<\/span><\/p>\n<p><b>Example:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gross income: $5,500\/month<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Target payment (31%): ~$1,705<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Original payment: $2,200 \u2192 <\/span><b>Modified payment:<\/b><span style=\"font-weight: 400;\"> ~$1,700<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Example scenarios<\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Scenario<\/b><\/td>\n<td><b>Change<\/b><\/td>\n<td><b>New payment<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Rate cut<\/b><\/td>\n<td><span style=\"font-weight: 400;\">6.5% \u2192 4.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2212$380<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Term extension<\/b><\/td>\n<td><span style=\"font-weight: 400;\">30 \u2192 40 yrs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2212$290<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Arrearages capitalized<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Past due amount added to balance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Neutral for short-term payment<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"font-weight: 400;\">Step-by-step: how to get a mortgage loan modification<\/span><\/h2>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Gather documents<\/b><span style=\"font-weight: 400;\"> (income, expenses, statements).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Contact your servicer early<\/b><span style=\"font-weight: 400;\">; ask for loss mitigation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Complete the application<\/b><span style=\"font-weight: 400;\"> accurately and completely.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Submit a hardship letter<\/b><span style=\"font-weight: 400;\"> (clear, concise, documented).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Make trial payments<\/b><span style=\"font-weight: 400;\"> (typically 3\u20134 months).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Receive permanent terms<\/b><span style=\"font-weight: 400;\"> after successful trial completion.<\/span><\/li>\n<\/ol>\n<h3><span style=\"font-weight: 400;\">Preparing your finances and documentation\u00a0<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Recent pay stubs or proof of income<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank statements (1\u20132 months)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Last two years of tax returns<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monthly expense list<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Hardship letter<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Recent mortgage statement<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Contacting your loan servicer\u2019s loss mitigation department<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Contact your loan servicer as early as possible if you\u2019re struggling to make payments. Reaching out before you fall too far behind can increase your chances of qualifying for a loan modification or other hardship assistance options.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you call, ask to speak directly with the loss mitigation department and be clear about your situation.<\/span><\/p>\n<p><b>What to ask your servicer:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What loan modification or hardship programs are available for my loan?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What documents are required, and where should I submit them?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Are there deadlines I should be aware of?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Will I need to complete a trial payment plan?<\/span><\/li>\n<\/ul>\n<p><b>Talking guide (keep it simple):<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cI\u2019m experiencing a long-term financial hardship and need help keeping my home.\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cI want to apply for a mortgage loan modification.\u201d<\/span><\/li>\n<\/ul>\n<p><b><i>Important:<\/i><\/b><i><span style=\"font-weight: 400;\"> Keep a communication log with dates, representative names, reference numbers, and summaries of each conversation. This can be critical if documents are lost, timelines are missed, or you need to appeal a decision later.<\/span><\/i><\/p>\n<h3><span style=\"font-weight: 400;\">Completing the application and hardship letter<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Accuracy and consistency matter when completing a loan modification application. Incomplete forms, missing documents, or conflicting information are common reasons applications are delayed or denied.<\/span><\/p>\n<p><b>Tips for completing the application:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Answer every question completely and honestly<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make sure income, expenses, and account numbers match across all documents<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Submit all requested paperwork together, if possible<\/span><\/li>\n<\/ul>\n<p><b>Hardship letter outline (keep it clear and factual):<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What changed and when the hardship began<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Why the hardship is long-term, not temporary<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How the hardship affected your ability to pay<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Why the proposed payment is affordable<\/span><\/li>\n<\/ul>\n<p><b>Do:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stick to verifiable facts and dates<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reference supporting documents<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<\/ul>\n<p><b>Don\u2019t:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Include emotional appeals without financial details<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leave gaps or unexplained inconsistencies<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Trial payment plan and final approval<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If your application is approved, most lenders require a trial payment plan lasting about 3\u20134 months before making the modification permanent.<\/span><\/p>\n<p><b>Typical timeline:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receive trial payment terms from your servicer<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make each trial payment on time and in full<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Continue submitting any requested updates<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receive final modification documents after successful completion<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Missing or late trial payments can result in automatic denial, even if you were conditionally approved. Once the trial period is completed successfully, the servicer issues permanent modification paperwork with the new loan terms.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Working with HUD-approved housing counselors and legal help<\/span><\/h3>\n<p><a href=\"https:\/\/answers.hud.gov\/housingcounseling\/s\/?language=en_US\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\"><span style=\"font-weight: 400;\">HUD-approved housing counselors<\/span><\/a><span style=\"font-weight: 400;\"> are non-profit organizations that help homeowners navigate loan modifications and foreclosure prevention, often at no cost.<\/span><\/p>\n<p><b>How counselors can help:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Review applications and hardship letters before submission<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Explain lender requests and available alternatives<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Help you avoid loan modification scams<\/span><\/li>\n<\/ul>\n<p><b>Consider legal help if:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Foreclosure proceedings have started<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You receive court notices or a sale date<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You\u2019re considering a short sale or deed-in-lieu<\/span><\/li>\n<\/ul>\n<p><b><i>Need help?<\/i><\/b><i><span style=\"font-weight: 400;\"> You can find a HUD-approved housing counselor through HUD\u2019s online database or by calling <\/span><\/i><b><i>888-995-HOPE (4673)<\/i><\/b><i><span style=\"font-weight: 400;\">.<\/span><\/i><\/p>\n<h2><span style=\"font-weight: 400;\">Common types of mortgage loan modifications and programs<\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b>Modification type<\/b><\/td>\n<td><b>How it works<\/b><\/td>\n<td><b>Pros<\/b><\/td>\n<td><b>Cons<\/b><\/td>\n<td><b>Typical use<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Interest rate reduction<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Lowers the loan\u2019s interest rate<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Immediate payment relief<\/span><\/td>\n<td><span style=\"font-weight: 400;\">May increase total interest over time<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Income drop or rate reset<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Loan term extension<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Extends repayment period (e.g., 30 \u2192 40 years)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lower monthly payment<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Longer time in debt<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Affordability issues<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Capitalizing arrearages<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Adds missed payments to balance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Brings loan current<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Higher total balance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Past-due loans<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Principal forbearance<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Sets aside part of balance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lowers payment<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Reduced equity<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Severe hardship<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Principal reduction<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Forgives part of balance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Smaller loan amount<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Possible tax impact<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rare, case-specific<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"font-weight: 400;\">What if your mortgage loan modification is denied?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A denial doesn\u2019t always mean you\u2019re out of options. Understanding why your application was declined can help you decide what to do next.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Common reasons for denial<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incomplete or missing documentation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Income insufficient to support even the modified payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Failure to respond to servicer requests on time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investor or loan program restrictions<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">What to do next<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Appeal the decision<\/b><span style=\"font-weight: 400;\"> if the denial was due to documentation issues<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reapply<\/b><span style=\"font-weight: 400;\"> if your financial situation changes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Explore alternatives<\/b><span style=\"font-weight: 400;\"> such as forbearance or a repayment plan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consider exit strategies<\/b><span style=\"font-weight: 400;\"> like refinancing, <\/span><a href=\"https:\/\/www.redfin.com\/blog\/how-to-buy-a-short-sale-home\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">a short sale<\/span><\/a><span style=\"font-weight: 400;\">, or a deed-in-lieu of foreclosure<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Acting quickly and staying in contact with your loan servicer can help preserve your options and prevent foreclosure.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Alternatives if you can\u2019t get a modification<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If a mortgage loan modification isn\u2019t approved\u2014or isn\u2019t the right fit\u2014other options may still help you manage or exit the situation.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mortgage forbearance:<\/b><span style=\"font-weight: 400;\"> Temporarily pauses or reduces payments; best for short-term hardships<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Repayment plan:<\/b><span style=\"font-weight: 400;\"> Spreads missed payments over time while resuming regular payments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Refinancing:<\/b><span style=\"font-weight: 400;\"> Replaces your loan with new terms if credit and income qualify<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Short sale:<\/b><span style=\"font-weight: 400;\"> Sells the home for less than the mortgage balance with lender approval<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Deed-in-lieu of foreclosure:<\/b><span style=\"font-weight: 400;\"> Transfers ownership to the lender to avoid foreclosure<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The right alternative depends on whether your hardship is temporary, your <\/span><a href=\"https:\/\/www.redfin.com\/blog\/how-to-calculate-home-equity\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">equity position<\/span><\/a><span style=\"font-weight: 400;\">, and whether you want to keep the home.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Working with HUD-approved housing counselors and legal help<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">HUD-approved housing counselors are nonprofit or government organizations that help homeowners navigate foreclosure prevention and loss mitigation, often at no cost.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can find HUD-approved housing counselors through HUD\u2019s online database. The <\/span><a href=\"https:\/\/www.hud.gov\/helping-americans\/avoiding-foreclosure#workingwithlenders\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\"><b>HOPE Hotline<\/b><\/a><b> (888-995-HOPE)<\/b><span style=\"font-weight: 400;\"> also connects homeowners with HUD-approved counseling agencies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consider legal help if foreclosure proceedings have started or you\u2019ve received court notices.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Avoiding mortgage loan modification scams<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Homeowners facing financial hardship are often targeted by loan modification scams that promise fast approvals or guaranteed results. Legitimate loan modifications are handled by your loan servicer or through HUD-approved housing counselors, not third-party companies charging upfront fees.<\/span><\/p>\n<p><b>Common red flags to watch for:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Requests for upfront payment to start or \u201cguarantee\u201d a modification<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Claims that approval is guaranteed<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Instructions to stop paying your mortgage or avoid your servicer<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pressure to sign documents immediately<\/span><\/li>\n<\/ul>\n<p><b>Safe steps to protect yourself:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Work directly with your loan servicer\u2019s loss mitigation department<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use HUD-approved, non-profit housing counselors, which typically offer help for free<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Keep copies of all documents and a written log of communications<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If a company promises results your servicer can\u2019t confirm, that\u2019s a strong sign to walk away.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Frequently asked questions about mortgage loan modification<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">1. How difficult is it to get approved for a mortgage loan modification?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Approval difficulty varies by lender and loan type, but it largely depends on whether you can document a long-term financial hardship and show you can afford the new payment. Submitting a complete, accurate application can significantly improve approval timelines and outcomes. Many borrowers are denied simply due to missing or inconsistent paperwork.<\/span><\/p>\n<p><b>Lenders typically review:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Documented financial hardship<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Current and stable income<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monthly debt and expenses<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Completeness of your application<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">2. What drawbacks should homeowners consider before choosing a loan modification?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A mortgage loan modification can lower payments, but it can come with trade-offs that affect the long-term cost of the loan, depending on how the modification is structured.<\/span><\/p>\n<p><b>Common drawbacks include:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Longer loan term<\/b><span style=\"font-weight: 400;\">, which can increase <\/span><a href=\"https:\/\/www.rocketmortgage.com\/calculators\/amortization-calculator\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\"><span style=\"font-weight: 400;\">total interest paid<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Higher overall loan cost<\/b><span style=\"font-weight: 400;\">, even with a lower monthly payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Potential credit impact<\/b><span style=\"font-weight: 400;\"> if the loan was previously delinquent<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Possible tax implications<\/b><span style=\"font-weight: 400;\"> if principal is reduced or forgiven<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">3. What steps do I follow to request a modification on my current mortgage?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The loan modification process involves working directly with your loan servicer and completing a structured application.<\/span><\/p>\n<p><b>Typical steps include:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Contact your loan servicer\u2019s loss mitigation department<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Request a loan modification application<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gather and submit required financial documents<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Write and submit a hardship letter<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Review the lender\u2019s proposed terms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Complete a trial payment plan (usually 3\u20134 months)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receive permanent modification approval<\/span><\/li>\n<\/ol>\n<h3><span style=\"font-weight: 400;\">4. By how much can a typical loan modification reduce monthly mortgage payments?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Payment reductions vary, but lenders often aim to make payments affordable relative to income rather than hitting a fixed dollar amount. Some programs aim for payments near 31% of gross monthly income, depending on investor guidelines.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Example:<\/span><\/i><span style=\"font-weight: 400;\"> A $2,200 monthly payment could be reduced to around $1,700 if income and loan terms support that target.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">5. How will a mortgage loan modification influence my credit profile and ability to refinance later?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A loan modification itself doesn\u2019t automatically damage your credit, but late or missed payments leading up to it often do. Over time, consistent on-time payments under the modified loan can help stabilize your credit profile.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Short term:<\/b><span style=\"font-weight: 400;\"> Credit scores may reflect prior delinquencies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Long term:<\/b><span style=\"font-weight: 400;\"> Refinancing may be possible after a seasoning period if income and credit improve<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">6. Which documents do lenders usually ask for when reviewing a modification request?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Most servicers require detailed financial documentation to evaluate hardship and affordability.<\/span><\/p>\n<p><b>Commonly requested documents include:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Recent pay stubs or proof of income<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank statements (usually 1\u20132 months)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Federal tax returns (typically the last two years)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monthly expense breakdown<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Recent mortgage statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signed hardship letter<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">7. What options remain if a mortgage loan modification application is turned down?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If your application is denied, you still have options depending on your financial situation and timeline.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Appeal the decision<\/b><span style=\"font-weight: 400;\"> if documentation was incomplete or outdated<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reapply<\/b><span style=\"font-weight: 400;\"> if your income or hardship situation changes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Explore alternatives<\/b><span style=\"font-weight: 400;\"> such as forbearance or a repayment plan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consider exit strategies<\/b><span style=\"font-weight: 400;\"> like refinancing, a short sale, or a deed-in-lieu of foreclosure<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Learn how mortgage loan modification works, who qualifies, and what to expect so you can lower payments and avoid foreclosure. See steps and options now.<\/p>\n","protected":false},"author":562,"featured_media":102896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[34277],"tags":[34642],"coauthors":[34346],"class_list":["post-108301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-mortgage"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What Is a Mortgage Loan Modification? - Redfin<\/title>\n<meta name=\"description\" content=\"Learn how mortgage loan modification works, who qualifies, and what to expect so you can lower payments and avoid foreclosure. 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