Calculate loan modification for real estate investments and properties
Enter current loan balance, interest rate, and payment. Then enter modified terms to see payment reduction and lifetime costs.
Modify a $350,000 loan from 7% to 4.5% and extend from 25 to 30 years, reducing payment from $2,475 to $1,773.
When facing hardship (income loss, medical bills, divorce) and you want to keep the property but can't afford current payments.
Less than foreclosure or bankruptcy. May show as "partial payment" or "modified" but impact is temporary and less severe than default.
Refinance if you qualify, forbearance for temporary hardship, repayment plan to catch up, or short sale/deed in lieu if keeping home isn't viable.