This website is not affiliated with any government organization or program.
Need Help Now? Call 888-563-7235

Loan Modification Basics

Before we can get into the process of modifying your loan, you will need to look at what put you in this situation. Is the issue only temporary? Did your rate adjust? Were you laid off from your job for a period of time? Did you fall behind due to some sort of hardship? Once you have pinpointed what it was that caused you to fall behind, we can begin to figure out the next step.

Similar to getting the loan, you must qualify for a loan modification. Here is what you need in order to qualify, and ultimately keep your home. You’ll need to present the lender with the reason as to why you can’t afford your current payment, but also explain that you can afford a new payment plan if one were granted. The lender will require a few documents such as a hardship letter, which we will get to later in this guide. Here are some common hardships that lenders find as acceptable:

  • Adjustable Rate Mortgage reset- Payment shock
  • Death of spouse or co borrower
  • Divorce or separation
  • Failed busines
  • Injury/Illness/Medical bills
  • Job relocation
  • Military duty
  • Loss of Job
  • Reduced income
  • Incarceration

Get Started!

Go to the top of the page and enter your zip code to find out if we can connect you with a specialist in your area. Once we successfully receive your information, we will match you with a loan modification specialist who will assist you with your mortgage problem. Act now!

Find Help in
Your Area
Enter Your Zip Code:
© 2010 The Wisdom Companies

Privacy Policy

The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the web-site is accurate and complete at the date first published, however you should recognize that information contained on this web-site may become out of date over time. Readers who have particular questions real estate financing or foreclosure, or who believe they require legal counsel, should seek the advice of an attorney. By submitting this contact request, you are consenting to be contacted by foreclosure consultants by telephone or email, even if you have previously listed yourself on any state or federal Do-Not-Call List. Please note that Wisdom may receive compensation from the foreclosure consultants for that introduction.

IMPORTANT NOTICE: is not a mortgage assistance relief service or mortgage lender, and does not do refinances. is not a government sponsored website. matches consumers with companies that may offer foreclosure prevention services. Lenders may not agree to change a consumer's loan. To access information on government sponsored assistance, please visit

* The 2% interest rate is based on the lowest interest rate available via the government's HAMP program. To learn more, please visit