Mortgage modification is a process by which a struggling homeowner applies to his/her mortgage lender to lower and/or defer monthly mortgage payments because of some demonstrable inability to make such payments. This complex process is never easy and requires a thorough preparation and review of a homeowner’s finances by a qualified legal professional to ensure that the mortgage is successfully modified.  

In March, 2009, as part of its efforts to improve the American economy and the housing market, the federal government has created a Home Affodable Modification Program (HAMP). The program was intended to help the qualifying struggling homeowners to keep their home. Most major banks participate in the program and all participating banks are mandated to follow the federal government’s guidelines in determining whether to modify each particular mortgage and the modified monthly payment amount. Those who qualify for the program, however, continue to be confronted with the bureaucracy of financial institutions and their servicers. Therefore, in an effort to combat such bureaucracy and to streamline the process of mortgage modification under HAMP, the federal government has imposed specific timelines, which must be met by the participating lenders  (for all trial period mortgage modification plans with an effective date on or after June 1, 2010). 

Although you are not required to be represented by an attorney when applying for your mortgage modification, all of our mortgage modification clients who tried to do so found it virtually impossible to navigate through the various laws and lender requirements governing their specific situtation, or to properly show their finances or to establish their inability to make their current mortgage payments.

For instance, some borrowers think that they automatically do not qualify for HAMP mortgage modification if they continue to make their mortgage payments. This, however, is false. To qualify for HAMP mortgage modification, it is sufficient that the borrower be at risk of “imminent default” (in addition to other qualifying requirements). Many borrowers think they do not qualify for HAMP mortgage modification because they have home equity loan or a second mortgage on their home. This, also, is untrue. All of these misconceptions can be avoided if you have a qualified legal professional representing you.

Mortgage modification outside of HAMP is also available. To see if you qualify for a mortgage modification, under HAMP or otherwise, please call us at 718-332-2260 or fill in the form to the right.

DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.




*Is this your primary residence:

*Outstanding Loan Amount:
Other loans on this property:

Property Market Value:

*Monthly Mortgage Payment:
(including taxes, insurance & maintenance charges)

*Current Gross Income:

Reason for hardship

*Required info