Loan modification interest rate
It is tough to put a “blanket” above all loan modification when it comes to interest rates, but on average, the interest rate on a loan modification is generally going to be 2% higher than whatever the average 30 year fixed interest rate is for mortgage loans.
Obviously the interest rate is going to have to be moderately higher because a lender takes on much more risk when giving money away to someone who is in serious financial trouble. In order for the deal to be worth the lenders time, he or she needs to have a slightly higher “reward” compared to the risk they put upon themselves.
The best way to get a low interest rate on your loan modification is to shop around several different lenders. It is all about supply and demand, if you talk to dozens of different loan modification lenders, you increase your odds of getting a good deal.