articles

A loan modification is a permanent change to the terms of a loan, according to the U.S. Department of Housing and Urban Development. A loan modification reinstates a loan and offers a repayment option the borrower can af... More »

www.reference.com Business & Finance Credit & Lending

According to the U.S. Department of Housing and Urban Development, a loan modification is a permanent change in one or more of the terms of a borrower's loan. It allows the loan to be reinstated and results in a payment ... More »

www.reference.com Business & Finance Credit & Lending Personal Loans

A home loan modification letter, sometimes also called a hardship letter, is a request from a borrower to a lender to change the terms of a home loan. Borrowers typically write these letters when they can no longer affor... More »

www.reference.com Business & Finance Credit & Lending
similar articles

A mortgage loan modification, in which certain terms of a borrower's loan are permanently altered, is permissible for only one time within 24 months and requires particular financial analysis criteria, such as a verifiab... More »

www.reference.com Business & Finance Credit & Lending

The Federal Housing Administration produces guidelines and requirements that FHA-approved mortgage lenders must use when determining the eligibility of FHA loan borrowers, according to the U.S. Department of Housing and ... More »

www.reference.com Business & Finance Credit & Lending

An FHA 203k loan is a loan that enables homeowners and buyers to take out money for the home along with the amount needed for any repairs or renovations, as stated by the Department of Housing and Urban Development. This... More »

www.reference.com Business & Finance Credit & Lending

An FHA home loan is a mortgage insured by the Federal Housing Administration, according to the U.S. Department of Housing and Urban Development. It is an alternative to a conventional mortgage. FHA loans are intended to ... More »

www.reference.com Business & Finance Credit & Lending