Loan Modification

A loan modification is a change to one or more of the terms of an existing loan. Loan modifications typically result in interest rate reductions, term extensions, a complete loan program change, or a combination of modifications. These options usually exist for borrowers who have become insolvent due to hardship and can no longer afford their mortgage payments. Many opt to contact their lenders on their own but with borrowers defaulting at record highs, lenders are very busy and do not have the capacity to respond to everyone in a timely manner. Attempting to attain an agreement on your own may result in losing time and money. At the Schwartz Law Firm we will conduct a comprehensive review of your loan and your hardship issues, prepare your loan modification papers for your lender or lenders and we will negotiate a loan modification for you.