Loan Modification Programs

Loan modification programs give you the opportunity to get out from under mortgage stress and start over. A modification program is designed to start your loan over erasing your default status. There are a variety of loan modification programs available, so it's important to find the right one to fit your mortgage debt needs.

1. Making Home Affordable. The Making Home Affordable Program is the official program of the Department of Treasury & Housing and Urban Development. They offer six different loan modification programs to specifically address different situations. These programs are designed to help lower interest and monthly mortgage payments.
2. Loan Modification Programs. Loan Modification Programs.org is a site dedicated to educating you on the loan modification programs available and how they can help you get out of a mortgage crisis. They also point you in the right direction to work with an attorney in your area who has experience in loan modifications. State laws may differ when it comes to loan modifications, make sure you're working with a qualified company and attorney to get the results you want.
3. National Mortgage Assistance Center. The NMAC offers a variety of loan modification and foreclosure programs. They can help move your mortgage to a lender that is more favorable to your specific situation allowing you to get out from under the stress of your mortgage debt. These solutions involve extension of the term of your loan, lower interest rate or a lower payment.

You should not be asked to pay a fee for loan modification counseling. Never work with someone who claims they can save your house if you sign over the deed. Never make a mortgage payment to anyone other than your mortgage company.