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2. The Hardship Letter: Four Points to Make When Seeking a ... - AOL

   www.aol.com/news/2011-03-28-the-hardship-letter...

   In the same vein, the spate of loan modification scammers who have taken thousands from already struggling homeowners in return for false promises to fix their broken adjustable rate mortgages ...

3. What is loss mitigation? - AOL

   www.aol.com/finance/loss-mitigation-131710263.html

   Loan modification Loan servicers are willing to explore loss mitigation, meaning they want to keep you in the house and get what you owe from them. (This is cheaper and easier for them than ...

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

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

   USDA loan modification: With a USDA loan, you can modify your mortgage with an extended term of up to 40 years, reduce the interest rate and receive a “mortgage recovery advance,” a one-time ...

5. 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 ...

6. 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.

7. 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 ...

8. 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]

9. What is an acceleration clause? And what triggers it? - AOL

   www.aol.com/finance/acceleration-clause-triggers...

   Unlike forbearance, loan modifications are permanent, so this strategy is best if you expect to experience ongoing hardship and need a major change to the terms of your mortgage. To obtain a ...