Services - Loan Modification & Workout

Loan Modification Calculator

See what you could save with a loan modifiation.

Balance of Existing Loan ($)

Current Mortgage Rate (%)

Monthly Payments (Principal and Interest Only):

Proposed Modified Interest Rate (%)

Proposed Term (30 or 40 years)



Proposed New Monthly Payment
Monthly Savings
Savings in the first 5 years
For informational purposes only

By now, most homeowners have heard something, whether through a news piece or advertisement, talking about loan modification. With millions of homeowners stuck in rising adjustable rate mortgages and no way to refinance them due to falling property values, a loan modification may be the best answer for struggling borrowers. If you are suffering from a financial hardship, a lender might agree to modify certain terms of your mortgage, making it more affordable for you and allowing the lender to avoid legal costs. These modifications may include:

• Reducing or modifying the interest rate of your mortgage
• Extending the term of your mortgage
• Reducing your monthly payments
• Reducing your principal balance (in rare cases)

A loan modification can give you a fresh start and bring your mortgage current and up-to-date. Because of economic pressures, it is imperative that you act quickly while lenders are willing to facilitate modifications.