Loan Modification - About 

A Loan Modification is a re-negotiation of the terms of a mortgage, resulting in a lower monthly payment more affordable to the borrower. Loan modifications very different from debt consolidations or mortgage refinancing. Loan modifications are used solve the problems of rising interest rates or hardships that make the original home mortgage payments unachievable by the home owner. In many cases a homeowner in need of mortgage aide will succeed in their loan modification, but not everyone can qualify. Here is some information to help you decide if a loan modification is right for you.