Virginia Summary of Loan Modification (General Order 12-1) (Richmond) is a program that allows homeowners in the state of Virginia to modify their existing mortgages in order to make them more affordable. The program is also known as COMO, which stands for General Order of Mortgage Modification. This program was created to help homeowners who are struggling to make their mortgage payments due to financial hardship. The program allows homeowners to reduce their mortgage payments, lower their interest rates, and/or extend the term of their loan to make it more affordable. There are two types of Virginia Summary of Loan Modification (General Order 12-1)(Richmond). The first type is the "streamlined modification," which is a one-time reduction in mortgage payments. This type of modification does not require the homeowner to submit any additional documents. The second type is the "full modification," which requires the homeowner to submit additional documents and complete a financial review in order to be approved. The program is administered by the Virginia Housing Development Authority (VEDA) and is available to homeowners in the state of Virginia. To qualify for this program, the homeowner must meet certain criteria, such as having a delinquent mortgage, being able to demonstrate a financial hardship, and having a mortgage that was originated before January 1, 2009.