Loan Modification as a Tool to Avoid Foreclosure

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A (1)
On Demand
To avoid foreclosure and remain in the home, many homeowners choose loan modification as a tool to regain control of the mortgage expense. Loan modification options are dictated by the homeowner’s mortgage product and mortgage investor. We will review common loan modification strategies used by homeowners who have mortgage products typically held by low and moderate-income homeowners. I will review national mortgage products such as FHA, Fannie Mae and Freddie Mac as well as products held by state housing finance agencies.

Learning Objectives:
• Provide information to financial planners regarding loan modification
• Describe the path to loan modification. It may not be the first option to avoid foreclosure
• Discuss the documents a client would need to present to loan servicers and how a financial planner can assist the client to prepare for the meeting