Save It or Sell It

Can a Loan Modification Help You Keep Your Home?

Answer a few questions about your mortgage, hardship, income, property, and foreclosure status to understand whether a complete loan modification review may be worth exploring.

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Your Private Loan Modification Assessment

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Dashboard-Connected Assessment

See whether a loan modification may be worth exploring.

The assessment reviews your mortgage status, hardship, property, finances, loan history, and document readiness. Your answers stay connected to your homeowner account so you can return later and see the result from your dashboard.

1 Mortgage Status 2 Hardship 3 Property 4 Finances 5 Loan History 6 Documents
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Loan Modification Document Checklist

Common documents that may be requested during a loss-mitigation review.

Income

Mortgage and Property

Hardship

Loan Modification University

Plain-English explanations of the loss-mitigation process.

What Is a Loan Modification?๏ผ‹
A loan modification changes one or more terms of an existing mortgage, such as the interest rate, payment, term, or treatment of arrears. Read Full Lesson โ†’
Loan Modification vs. Forbearance๏ผ‹
Forbearance usually pauses or reduces payments temporarily. A modification changes the mortgage terms more permanently. Read Full Lesson โ†’
What Is a Trial Payment Plan?๏ผ‹
Some programs require successful trial payments before permanent modification documents are issued. Read Full Lesson โ†’
How Do Servicers Review Applications?๏ผ‹
Servicers may review hardship, income, expenses, occupancy, loan type, investor rules, escrow, arrears, and document completeness. Read Full Lesson โ†’
What Happens After a Denial?๏ผ‹
A borrower may be able to correct missing documents, appeal, request reconsideration, explore another option, or consult an attorney. Read Full Lesson โ†’
Loan Modification Scams๏ผ‹
Be cautious of guarantees, pressure to stop paying, instructions to ignore your servicer, or requests to transfer title. Read Full Lesson โ†’

Save It or Sell It provides general mortgage and real estate education and is not acting as your attorney, mortgage lender, housing counselor, or government agency through this assessment. Foreclosure and court deadlines can be time-sensitive.