Rockland County
Loan Modification Lawyer

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Loan Modification

The possibility of losing your home due to financial hardship can be devastating for homeowners and their families. One method of foreclosure defense that can help a family keep their home is known as a loan modification. This option is different than refinancing a mortgage because you keep your original loan but certain payments may be reduced. If you are considering a loan modification in Rockland County, Westchester County, or anywhere in the Hudson Valley, you need strong legal guidance every step of the way. The Law Offices of David M. Katz has proudly represented clients for decades as they navigate various means of foreclosure defense. It may not be too late to get relief. We may be able to help! Contact a loan modification lawyer at our office today to explore your options.

What might be included in a loan modification?

Loan modifications come in several different forms, as not everyone’s situation is the same. A loan modification is a foreclosure defense strategy that can help you keep your home by reducing your monthly payment. Some of the aspects that may be included in a loan modification include:

  • A reduction in the principal of the loan
  • A reduction in your monthly payment
  • A modification or reduction of the loan’s interest rate
  • The elimination or reduction for late fees or non-payment penalties
  • A temporary pause in payments, known as a forbearance

A reduction in your interest rate or principal can help lower your monthly mortgage payment by hundreds of dollars, making it more manageable for you to afford. If you are concerned about being able to pay your mortgage, do not hesitate to contact the Law Offices of David M. Katz today to learn how we can help.

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What should I include in a hardship letter?

A hardship letter provides you with the opportunity to explain any circumstances that made it difficult for you to meet your current mortgage payment. The primary goal of a hardship letter is to explain your situation, discuss what you have done to try and remedy the issue on your own, and ask for specific assistance from your lender. Some of the examples of hardship that you may wish to disclose include the following:

  • Change of employment status
  • Loss of income
  • Divorce
  • Illness or injury
  • Death
  • Military deployment
  • Other unexpected life events

Contact a Rockland County Loan Modification Attorney

The Law Offices of David M. Katz has decades of experience helping clients across the Hudson Valley navigate the loan modification process. Our foreclosure defense lawyers are here to walk you through each step of the loan modification process and if your request is denied, can help you submit an appeal. Contact a loan modification lawyer at our office today to discuss the specifics surrounding your situation.

How Do We Fight Against Foreclosure?

The Law Office of David M Katz, P.C. has extensive experience helping New Yorkers save their homes from foreclosure. Foreclosure itself has a wide range of impacts that can be avoided with the help of our firm. It is time to get the relief you deserve. Contact us today.

Loan Modification

You may be eligible to save your home by adjusting your mortgage. Every residential foreclosure lawsuit must go to the Foreclosure Settlement Conference to see if you qualify for a loan modification. We can represent you.

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Loss Mitigation

Loss mitigation stops foreclosure in its tracks, requiring your lender to assess your financial ability to see if you qualify for a government or internal bank loan modification. Having an experienced attorney is invaluable.

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Mortgage Litigation

You may be facing an illegal foreclosure, and it may stem from the terms of your loan, or much more. Our law firm is ready to explore every potential defense on your behalf.

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