A loan modification is an agreement between the borrower and the lender that permanently changes the terms of the current loan. The objective is to cure any default and make the loan more affordable for the duration of its term. If possible, it is often the best option for most borrowers.
Resources
Determining What Programs are Available Webinar
Determining What Programs are Available PDF
Wind Down Sheet
MFY’s Waterfall Worksheets and Guides
Flex Modifications