More Than 20 Years Experience

in Bankruptcy and Foreclosure

We stop harassing phone calls in their tracks once we are retained.

Staying Afloat With Mortgage Modifications

At the Law Office of John Gonzalez, P.C., we feel that mortgage modification is an extremely effective tool you can use if you are having difficulty making your home payments. With a modification, your loan is restructured so that it is more affordable and will better fit your budget.

It is crucial to reach out to a reputable bankruptcy attorney like John Gonzalez if you are looking for help. He can work with you on a loan modification application to secure a better deal from a lender or through a government-assistance program that is federal or based here in New York state.

The Benefits Of Mortgage Modification

While each financial situation is unique, but there are many benefits to mortgage modification. These include:

Receiving lower interest rates
Lowering or erasing payments
Erasing delinquent payments
Extending mortgage terms
Your principal stays the same or is reduced

A Qualified Attorney Is A Tremendous Asset

Unfortunately, 85 to 90 percent of homeowners who attempt a loan modification on their own do not succeed. With paperwork varying by lender and servicer, the better option for success is to speak with a bankruptcy lawyer who understands the rules and paperwork and can present it in the best way to gain approval. While we charge a flat fee to perform these services, the amount is quite modest in comparison to the amount of money individuals will save on their mortgage payments.