Taxable Income for Loan Mod

[Johnny Forgione]

Hi Everyone, 

Looking for some help on a tax issue.

I have a borrower that wants to do a loan mod on a loan that matures September 1st, 2020. The borrower last made a payment in July 2018. 

This will actually be my first time working out a loan mod with a borrower. I was told that if I change the interest rate or modify the terms of the loan, that I would have to claim the entire UPB as taxable income for this year.

My question is..if I put the borrower on a forbearance agreement without changing the interest rate or modifying the loan, and all I do is extend the date to 6 to 12 months from September 1st, would that allow me to not claim the UPB as taxable income for 2020? Is there anything else I need to be looking out for?

Any help would be greatly appreciated. 

Thanks