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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. How to stop foreclosure - AOL

    www.aol.com/finance/stop-foreclosure-220538027.html

    6. Short sale. A short sale happens when the lender allows you to sell the house for less than the outstanding loan amount, takes the proceeds and forgives any remaining debt. A short sale could ...

  4. 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.

  5. Loss mitigation - Wikipedia

    en.wikipedia.org/wiki/Loss_mitigation

    Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure. These new terms are typically obtained through loan modification, short sale negotiation, short refinance negotiation, deed in lieu of foreclosure, cash-for-keys negotiation, a partial claim loan, repayment plan, forbearance, or other loan work ...

  6. 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 ...

  7. Forbearance - Wikipedia

    en.wikipedia.org/wiki/Forbearance

    Borrowers can ask their lenders to make changes to the terms of their loans. Borrowers can either opt for a short-term relief by having their mortgage payment suspended for a short period of time (known as forbearance in the U.S.), or they can apply for reduced payments over the life of the loan's term (known as loan modification in the U.S.).

  8. Mortgage Modification: 6 Steps To Nailing a Loan Mod - AOL

    www.aol.com/news/2012-02-01-mortgage...

    By Jack Guttentag for Inman News Millions of mortgage borrowers who can no longer afford their mortgage payments but can afford a lower payment can avoid foreclosure by getting a modification of ...

  9. Loan modification company - Wikipedia

    en.wikipedia.org/wiki/Loan_modification_company

    A loan modification company, also known as a mortgage modification company, is a business that helps homeowners in the United States modify the terms of their home loans or mortgages. When a mortgage is modified, the original terms of the home loan contract between a lender and a borrower are renegotiated and then altered, usually in the favor ...

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    related to: chances of loan modification approval letter definition real estate short sale