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Obtaining A Mortgage Modification

Application for Mortgage Modification

Mortgage modifications are designed to prevent homeowners from having their home sold at a foreclosure sale. Obtaining a mortgage modification is an important option homeowners facing foreclosure should consider. Homeowners fall behind on their mortgage payments for a variety of reasons. The best way to obtain a mortgage modification is for the homeowner to show they fell behind due to a hardship. The homeowner should document the hardship has ended, they are back on their feet and they are receiving regular income. There are a variety of factors used by the financial institutions when considering a mortgage modification. Some of these factors deal with the market value of the home as compared to the mortgage balance owed. In addition, if the present mortgage has a high rate of interest the bank may consider lowering the interest rate or doing a balloon mortgage modification to make it easier for the homeowners to meet their monthly mortgage payments in the future.

The Mortgage Modification Process

The mortgage modification process can be time consuming. During this process our office presents the financial institution with an aggressive foreclosure defense. We sue financial institutions to set aside the mortgage which also gives us leverage in the mortgage modification negotiations. We are persistent in following up on a regular basis on mortgage modifications. Often financial institutions and their servicing companies fail to properly process the mortgage modifications. We don’t let them get away with that.

Facing Foreclosure

Attorney Elliot Schlissel If you are facing foreclosure it is strongly suggested you hire an experienced foreclosure defense law firm to represent you in the foreclosure litigation and press the financial institution to give you a mortgage modification. We have offices in Nassau, Suffolk and Queens Counties. We can be reached for a free consultation at 800-344-6431 or e-mail us at Elliot@sdnylaw.com.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

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We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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