What is a loan modification?

A loan modification is a permanent change to the terms of a mortgage note. There are several different types of loan modifications, but they are all designed to make your payments more affordable. Generally a loan modification will lower your existing rate and put you into a fixed rate loan.

Currently banks and lenders are more open to loan modifications than they have been in the past. The challenge that many homeowners face with modifying there loans is that banks are extremely busy, and unless your loan modification is packaged correctly it is very difficult to get the lenders attention.

When our attorneys contact your lender, they will have already packaged your modification in a way that will be easy for the lender to quickly assess, and approve your loan modification.