How to Get Mortgage Modifications After Losing a Job

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Unemployment is common during tough economic times. When things don't improve quickly, some homeowners have trouble paying their mortgage loans. There's always the option of refinancing a home loan and lowering the payment. Unfortunately, losing a job disqualifies some homeowners, and mortgage lenders require steady employment. If unable to refinance, consider a modification, wherein you're able to obtain better mortgage terms without a "refi."

Things You'll Need

  • Income statements
  • Hardship letter
  • Speak with your lender--the institution where you send monthly mortgage payments. Act quickly after losing a job to contact your lender for help. Express your desire to alter your mortgage term through a modification and discuss your eligibility.

  • Have your income statements on hand. Mortgage modifications are purposed to help homeowners in distress. After losing a job, show proof of your current income: perhaps an unemployment check stub or bank statements detailing monthly deposits.

  • Demonstrate an inability to pay your mortgage. Some lenders offer modifications only to homeowners who are 30 to 90 days delinquent on their mortgage. Research your lender's requirements.

  • Write a hardship letter. Your hardship letter determines whether your lender will approve your modification after losing a job. State your reasons for seeking a mortgage modification, such as loss of income or employment. Provide specific details about your financial standing, and include information about your credit card balances, savings, tax returns and other loans.

Tips & Warnings

  • Write an honest hardship letter. Lying about your income or trying to hide assets can disqualify you.


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  • Photo Credit mortgage image by hans slegers from

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