Loan modifications are a long-term mortgage relief option for borrowers experiencing financial hardship, such as loss of income due to illness. A modification typically changes the loan’s rate, term ...

A mortgage loan modification can offer an opportunity for borrowers to get their monthly payment on their mortgage reduced to an amount they can afford. A mortgage loan modification may extend the ...

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The Internal Revenue Service has released a revenue procedure dealing with the tax effects on securitized mortgages that have been modified to avoid foreclosures. Revenue Procedure 2008-28 describes ...

Today’s servicers are working in a challenging environment due to several compounding factors. For one, the mortgage industry is experiencing historically low interest rates, which have set in motion ...

A cooling job market is leaving some homeowners without steady income. Learn how to continue paying your mortgage.

Several of the bankers testifying before the House Financial Services Committee on Tuesday drew a close connection between principal reduction and the impediment to loan modifications posed by the ...

Forbearance exits, measuring how many borrowers cancelled agreements to suspend mortgage payments, rose to a one-month high in September’s first week. This was led by a surge in loan modifications, ...

Throughout the United States, periodic and ongoing businesses closures and disruptions continue to occur in response to the coronavirus (COVID-19) pandemic. The resulting economic distress has ...

Mortgage delinquencies are continuing to rise, but so are efforts to keep Americans in their homes. The Offices of Comptroller of the Currency (OCC) and Thrift Supervision (OTS) released their latest ...