Are your loans getting too hard to pay? In certain instances, you can take advantage of the fact that loan agreements aren't set in stone.
If you're in trouble and are unable to pay your loans, you may want to request a loan modification. Banks and the government offer many loan modification programs that can help you. For example, the Home Affordable Modification Program (HAMP), created in 2009, allows eligible homeowners to reduce their mortgage payments to 31 percent of their pre-tax monthly income.
Sounds great, but how do you get a loan modification? Here are some steps to help guide you through the process: