Loan Modification

A Loan Modification is a process by wherein your loan is basically reinstated or "modified" by the lender. This will allow you to have a payment that is more affordable. It does however "reset" your loan and, to adjust for the lower payment, adds the rest of the loan amount to the back end of the loan.

While a loan modification is the answer for some, we reccomend that you check to see if you qualify for a Short Pay Refinance before moving forward with a Loan Modification.