Loan Modifications

Most of the readers who have clicked on this page know what a loan modification is and why they want one. However, for the sake of thoroughness, let us define a loan modification. A loan modification is the alteration or change of an existing mortgage loan and its terms. The purpose for a loan modification is for one to be able to afford their mortgage payments and avoid foreclosure.

I decided to provide loan modification services the minute people started to drop by my office complaining that they had paid a non-attorney anywhere from $2k to $5k and had not received any service. I am afraid that the same people who got you into your crazy mortgage are the ones that are now trying to sell you on loan modifications. I also decided to do loan modifications because I know that as an attorney, I have a little more leverage against the lenders – especially when they have engaged in wrongdoing as has often been the case these last five to ten years.

One important thing to remember is that your lender does not want your home. They have more homes than they know what to do with. Also, it costs a lender about $50K to foreclose on a home. Therefore, they would rather modify the terms of the loan and have you make affordable payments than lose money on foreclosing on your home.

Our Loan Modification Services:

Depending on your mortgage(s) and your personal circumstances, we will try a combination of any of the following:

• Lowering your interest rate;
• Obtaining a fixed rate;
• Extending the term of your loan to 30 or 40 years;
• Reducing the principal of the balance.

Myself and my staff are standing by to take your call.

Please call my office at your convenience to schedule an appointment to meet with me.