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Loan Modification


If you don't qualify for a mortgage refinance, you may still be able to reduce your monthly payments. A loan modification is like a revised home loan; in most cases your lender adjusts the interest rate or the loan term (or both) to reduce your monthly payment.

When you ask for a loan modification, you'll need to provide a hardship letter (a letter stating why you need a modification), along with documents showing:

  • Monthly gross income
  • Your most recent tax return
  • A breakdown showing your savings and other assets
  • A breakdown showing your mortgage, second mortgages, credit card debt, and other loans

For more information about loan modifications, check out the Making Home Affordable website at

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This article contains general information only. Sunflower Bank is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.