Loan Modification

A mortgage for which the borrower has failed to make payments as required in the loan documents. If the borrower can't bring the payments current within a certain time period, the lender ...

A postponement of loan payments, granted by a lender or creditor, for a temporary period of time. This is done to give the borrower time to make up for overdue payments.

The assumption of an existing mortgage by a qualified, third-party borrower from a financially distressed borrower. By having someone else assume the mortgage, the financially distressed ...

The percentage of loans within a loan portfolio that have delinquent payments. The delinquency rate is simply the number of loans that have delinquent payments divided by the total ...

A loan modification program introduced in 2009 to promote stability in the housing market. The Home Affordable Modification Program (HAMP) was aimed at helping homeowners who were ...

An initiative launched in 2007 to combat the rising tide of foreclosures created by the subprime mortgage market meltdown. The Alliance is comprised of members from the U.S. government, ...

A visual representation of data using colors. A heatmap can be used with all sorts of data, from representing the number of foreclosures to the spreads of credit default swaps. For ...

Should you refinance your mortgage to purchase other assets? Learn how to weigh your risk.

Learn how rate changes can affect home prices and how you can keep up.

We walk through the steps needed to secure the best loan to finance the purchase of your home.

Hope Now was formed to help prevent foreclosures. Are the organization's strengths enough to overpower its weaknesses?

This program allows FHA borrowers to reduce monthly mortgage payments through negotiation with lenders.

Sometimes it's better to cut your losses, but foreclosures and short selling can have devastating impacts on your credit score.