The goal of a loan modification is to prevent foreclosure and facilitate sustainable and affordable homeownership.  While mortgage servicers have the power to modify loans, the foreclosure rate continues to far outstrip loan modifications, and the modifications that are made often are not sustainable.  Despite government efforts to encourage modifications through the Home Affordable Modification Program, too often servicers have found it more profitable to foreclose than to offer loan modifications that would benefit homeowners and investors.

HAMP and Other Loan Modification Programs

HAMP Policy Analysis

Mortgage Servicing Policy Analysis



The Institute for Foreclosure Legal Assistance
NCLC gratefully acknowledges the support of IFLA in the creation and maintenance of this page.