Loan Modification Law Firm

Common Loan Modification Questions

What is loan modification?

A modification to an existing loan made by a lender in response to a borrower's long-term inability to repay the loan. Loan modifications typically involve a reduction in the interest rate on the loan, an extension of the length of the term of the loan, a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so is less than the cost of default.

Can loan modification prevent me from losing my home to foreclosure?

Loan modifications have been known to put a stop to foreclosure actions, although this does not always happen 100% of the time.  Obtaining a loan modification from your lender can be quite difficult, especially in situations where the lender feels they will lose money if the home loan is modified.  If a lender thinks they will profit more from foreclosure, they will more often than not, deny a loan modification. Our firm will help you take the legal actions necessary to seek a loan modification, and hopefully with our help you can avoid foreclosure and keep your home. 

How do I know if I qualify for a loan modification?

Not all people are eligible to pursue loan modification, and the eligibility requirements are ever-changing.  The United States Treasury Department recently released a report listing the specific qualifications for loan modifications.  Our law firm will carefully examine your circumstances to determine whether or not you qualify for loan modification. 

How should I prepare for loan modification?

The most difficult part of preparing for loan modification is gathering pertinent paperwork.  At Liberty Credit Law, PC, we will help you prepare for this legal process and will give you a clear idea of what we need from you to successfully pursue loan modification.  Once you have gathered the proper paperwork, we will examine it and file the appropriate forms to get your loan modification moving. 


Why should I work with Liberty Credit Law, PC?

At Liberty Credit Law we have years of experience in consumer law, real estate law, collection law and bankruptcy.  Unlike for profit companies that offer consumer services, we are a law firm with attorneys dedicated to protecting your rights, solving your credit and debt related issues and providing you the legal representation that you need.  Our experience is that lenders will give us the best possible resolutions to your needs because they know we will vigorously protect your legal rights.  Lenders have attorneys and so should you.

Contact Liberty Credit Law today for more information about loan modifications!