Loan Modification Attorney

A loan modification is a permanent loan contract with the loan servicer or owner of the loan that changes loan terms and can lower your monthly payments to help you avoid foreclosure. Loan modifications are generally done by agreements between borrowers and their loan servicers, but if not resolved may result in foreclosure proceedings being initiated against the borrower.

If you are behind on your mortgage payments, it is important to contact your our office right away, rather than waiting until after they initiate foreclosure proceedings. You can often get more favorable loan terms as opposed to dealing with a judge who will decide what steps must be taken in order for them to satisfy the mortgage note holder's rights under state law.

The foreclosure process can be stressful. If you are looking for an experienced foreclosure service to help you stop foreclosure, call us at (630) 286-9276 or read on how filing bankruptcy may help.

Missing mortgage payments while seeking a loan modification does increase risk, but it does not automatically mean you will lose your home. Many homeowners who pursue a modification are already behind due to a documented financial hardship. In some cases, lenders will review a complete modification request and temporarily pause or slow foreclosure activity while the application is under consideration. This review period can provide important breathing room, especially when handled properly and submitted on time.

However, this is where timing and oversight matter. Lenders are not required to stop foreclosure simply because a modification is being requested, particularly if deadlines are missed or documents are incomplete. If a foreclosure sale date is approaching, additional legal protections may be necessary to prevent the process from moving forward. Every situation is different, which is why it is important to understand your position and not rely on assumptions. When managed correctly, seeking a loan modification does not automatically mean losing your home, but it does require careful monitoring and a clear strategy.

In some situations, a loan modification can help stop or delay foreclosure, but it is not automatic and it is not guaranteed. When a complete modification request is submitted and actively under review, many lenders will pause or slow foreclosure activity while they evaluate the application. This review period can provide valuable time for homeowners to stabilize financially and avoid rushed decisions, especially when deadlines are approaching.

That said, timing and proper handling matter. If a foreclosure sale date is already scheduled, additional legal steps may be needed to protect your rights while a modification is being considered. Every lender and loan type follows different guidelines, which is why having the process properly managed is critical. When done correctly, a loan modification can be an effective tool to help homeowners stay in their homes, but it works best as part of a broader strategy rather than a last-minute attempt.

A loan modification is a process where your existing mortgage terms are reviewed and adjusted to make the loan more affordable and sustainable. This can involve lowering the interest rate, extending the loan term, adding missed payments to the back of the loan, or using a temporary forbearance period to give you time to stabilize financially. The goal is not a short-term fix, but a payment structure that fits your current situation and helps you stay in your home long term.

The process typically begins with a review of your financial situation and communication with your lender to determine what options may be available. Documentation is gathered, timelines are monitored, and negotiations take place while your rights are protected. In many cases, this can also help slow foreclosure activity while the lender reviews the request. Every situation is different, and results depend on factors like loan type, hardship, and lender guidelines, but when handled correctly, a loan modification can provide real relief and a clear path forward instead of forcing rushed decisions.

There are many reasons you may not qualify for a refinance.  In some instances, it could be that a short term hardship has effected you or you don't have proof of income. If you are struggling with your monthly payments and do not qualify for a refinance because your credit score has dropped, a loan modification may help to lower the amount that you have to pay each month. This will reduce the possibility of falling behind on your loan, which could eventually prevent foreclosure for not making loan payments.

The hard part is convincing your lender to grant you loan modification when they are not required to do so by law. Since loan modifications were implemented by Congress in 2009, many lenders feel no need to give relief based on this legislation since it's optional and voluntary on their part; however there many reasons why a loan modification can work in your favor such as:

• Reducing interest rates
• Lowering monthly mortgage payment
• Extending the term of loan repayment
• Lowering principal balance

Our Law Offices started 30 years ago to help people with their home purchases and sales. But as the housing market evolved, we found that many clients needed advice beyond just buying or selling a property; they need help keeping it safe too.

After seeing so many people being taken advantage of by unscrupulous people, we decided to make it our mission to assist homeowners who have suffered from a financial hardship. We studied the entire modification process inside and out and are well versed in the different underwriting guidelines for Fannie Mae, Freddie Mac loans as well as Government-backed mortgages like VA or FHA loans.

The best way to protect your money is by having a skilled advocate in your corner. We work hard so you don’t have to, and that includes protecting against predatory lenders who want nothing more than for you to give up on yourself because they are too powerful for one person alone.

The Law Offices of Jeffrey A. Avny is the best place to go for a loan modification, we believe in helping people by actually helping them and will give you full refund if not successful. There are many companies out there (many of which are out of state) that may take your money or charge more whether they are able to help you with restructuring your mortgage debt

At the Law Offices of Jeffrey A. Avny we offer a 100% Money Back Guarantee to help make the decision easier for you. We don't feel we should get paid, if we can't help you.