A loan modification is a long-term mortgage relief option for borrowers experiencing financial hardship, such as loss of income due to illness. A modification typically changes the loan’s rate, term ...

FDIC Chairman Sheila C. Bair has announced that IndyMac Federal Bank FSB will implement a new program to systematically modify troubled mortgages. The program is designed to achieve affordable and ...

Hope Now, a private sector alliance of mortgage servicers, investors, mortgage insurers and nonprofits, said the industry completed nearly 150,000 permanent loan modifications in August, with 91% of ...