Loan Modification Calculator
Compare your current loan with modified terms. Calculate monthly payment savings and total interest differences when restructuring your loan.
Loan Modification
Urgent: 3 Months Behind
You're 3 months behind ($7,094 in arrears). Contact your lender immediately to discuss modification options before foreclosure proceedings begin.
Strong Modification Candidate
You could save $743/month and meet 6 of 6 qualification criteria. This modification appears very feasible!
Loan Modification Tips
- Act early: Contact your lender as soon as you anticipate trouble
- Document everything: Keep copies of all communications and submissions
- Be honest: Provide accurate information about your hardship
- Trial period: Make all trial payments on time to secure permanent modification
- Credit impact: Modifications can lower your score but less than foreclosure
- Scam warning: Never pay upfront fees to "modification specialists"
- Get help: Contact a HUD-approved housing counselor for free assistance
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