Is there a difference between a loan modification and a mortgage modification?

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My husband and I just got into a huge fight because I was supposed to ask for a Mortgage Modification instead of a Loan Modification for our mortgage loan…is there a difference? I thought they were the same.
In regards to us “having huge issues,” YES, we do have huge issues when it comes to our mortgage (we are 30% underwater, my husband is in Afghanistan so that we can pay our mortgage, etc) but that is NOT what I was asking and to make a statement like that is inappropriate, inconsiderate, and judgemental. Please just answer the question.

Jesse Jackson at foreclosure protest at San Francisco Federal Reserve Bank

Coverage of Jackson’s visit to the bay area…

Investigative reporting on foreclosures…

An explanation of the mortgage crisis

Michael Moore’s Capitalism: A Love Story which opens 10-2-09 deals with foreclosures. Links on my photos from his visit the day before Jackson’s

  1. Reply
    April 30, 2011 at 12:05 am

    Your husband is playing a game of semantics. When you call your lender asking for a modification, they know exactly what you mean, regardless of what you called it.

  2. Reply
    April 30, 2011 at 1:02 am

    Semantics. Loan mod, mortgage mod – basically it is a loan on your property, not much room for interpretation there. If you got in a huge fight over this, you have huge issues.

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