Mortgage Modification vs. Refinance: An Overview Changing the terms of your mortgage could lower your interest rate, reduce your monthly payment, or give you more time to repay the loan.

To be eligible for a loan modification, you need to be in default or at risk of default. A homeowner could be in this situation because of a serious event, such as a job loss or the death of ...

Many people facing foreclosure have successfully made the trial mortgage modification payments required of them, but they've been unable to get their banks to make the modifications permanent. For ...

The better news is that you probably don’t owe any federal income taxes as a result of the loan modification. Your lender was required to send you the 1099-C. The 1099-C shows the amount of debt ...

The Treasury Department today will announce changes to the Obama administration's embattled $75 billion Home Affordable Modification Program (HAMP) to help owners facing foreclosures.

But FICO’s new Mortgage Recovery Initiative, like the FICO score, looks at your other financial obligations, your total debt and your ability to manage that debt effectively, all factors that ...

The modification plan, available only for owner-occupied homes, resembles an approach the FDIC is taking on mortgages serviced by Pasadena’s failed IndyMac Bank, which is now run by the FDIC.

Treasury highlights mortgage rescue plan for homeowners on one-year anniversary. Feb. 17, 2010— -- One year after President Obama announced a new plan to help struggling homeowners avoid ...