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2. Mortgage loan modification: What it is and how to get one - AOL

   www.aol.com/finance/mortgage-loan-modification...

   Loan modifications are a long-term mortgage relief option for borrowers experiencing financial hardship, such as loss of income due to illness. ... How to apply for a loan modification 1. Review ...

3. Flex Modification Program (FMP): Everything you need to know

   www.aol.com/finance/flex-modification-program...

   The Flex Modification program is a conventional loan modification program designed to help homeowners who are experiencing long-term or permanent financial hardship. Using this program can help ...

4. Loan modification vs. refinance: Which option is best for you?

   www.aol.com/finance/loan-modification-vs...

   Before applying for a loan modification, consider the pros and cons to determine if it’s a good fit for your financial situation. Pros of loan modification. Lower monthly payments: ...

5. Loan modification in the United States - Wikipedia

   en.wikipedia.org/wiki/Loan_modification_in_the...

   Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances. Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure.

6. Making Home Affordable - Wikipedia

   en.wikipedia.org/wiki/Making_Home_Affordable

   The Home Affordable Modification Program (HAMP) is a government program introduced in 2009 to respond to the subprime mortgage crisis.HAMP [10] is part of the Making Home Affordable program (MHA), [11] established in concert with the Hardest Hit Fund program (HHF) [12] under the Troubled Asset Relief Program (TARP), a part of the Emergency Economic Stabilization Act of 2008. [13]

7. Mortgage modification - Wikipedia

   en.wikipedia.org/wiki/Mortgage_modification

   The emergency loan-modification options give homeowners the potential to extend amortization periods on their homes if experiencing significant financial hardship or foreclosure. These options can offer extensions up to a 40-year amortization, if a 15-year extension is granted on a previous 25-year amortization mortgage. [1]

8. How to lower your mortgage payment

   www.aol.com/finance/lower-mortgage-payment...

   4. Modify your loan. If you’re in financial distress, the government offers loan modification programs aimed at helping with financial hardships. A modification typically changes the loan’s ...

9. Loss mitigation - Wikipedia

   en.wikipedia.org/wiki/Loss_mitigation

   Loan modification: This is a process whereby a homeowner's mortgage is modified and both lender and homeowner are bound by the new terms. The most common modifications are lowering the interest rate and extending the term to up to 40 years. Reduction in the principal balance, however, is so rare that the Federal Reserve wrote in a report that ...