Q. What is a loan modification?
A. A Loan modification is a new agreement between you and your lender making
revisions to the terms of your original loan. It helps you, the
borrower, by making the payments more affordable, but also can be
beneficial to the lender who recognizes that the relatively small loss
through this process is much less than their losses involved with a
foreclosure.
Q. How can a loan modification attorney help me?
A. A loan modification lawyer can help you get the best and quickest
results by understanding your needs from a legal perspective. A loan
modification lawyer can put a stop to any foreclosure proceedings while
you negotiate with your lender.
Q. How long should I expect a loan modification to take?
A. This may vary per lender, but generally a loan modification can be resolved within 30-90 days.