California Loan Modification Attorneys

Lender Requirements

Welcome to ModifyLoan.net

We are here to assist the concerns of homeowners everywhere. Whether that be a loan modification, short sale, deed in lieu of foreclosure or litigation. Our website was designed specifically to address the legal needs of homeowners that are suffering as a result of the mortgage and housing crisis. We believe the advantages of working with a law firm comes from the “whole picture perspective”.

Why do I need a lawyer?

Many homeowners have collateral issues that they may be unaware of, such as bankruptcy and deficiency judgments. Lenders also often require homeowners to sign a release of any and all legal claims based on the origination and servicing of the loan as a condition of the loan modification. It makes sense to have your mortgage reviewed to make sure there are not relevant claims being waived. For this reason, we perform a mortgage audit on the file at the beginning of every loan modification.

What is the purpose of a loan modification?

A loan modification is a permanent change to a loan contract agreed to by both the lender and the borrower. The lender modifies an existing loan in an effort to help the homeowner in a time of documentable hardship. The ultimate goal is to make the loan affordable for the long term. Usually loan modifications come in the form of a rate reductions and fixing the interest rate for a certain period of time.
From the blog!