Last reviewed 10-31-2026Short-Sale.com Editorialglossary
Modification
Fannie Mae
Updated 10-31-2026
Modification
The act of changing any of the terms of the mortgage by agreement between the borrower and the note holder.
Fannie Mae Glossary of Terms
Fannie Mae · p. 31
FTC
Updated 10-31-2026
Modification
Any change to the terms of a mortgage loan, including changes to the interest rate, loan balance, or loan term.
FTC Real Estate Terms
FTC · p. 12
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