Loan Modifications

In 2009, President Obama started the Making Home Affordable program that was designed to help
keep homeowners in their homes and reduce the number of foreclosures. Many homeowners
received invitations to participate in the HAMP program and were offered “trial plans” that
lowered their mortgage rates significantly and joined up hoping that it would be a solution and
keep them in their homes. While there are many benefits to a loan modification, it can be a complicated process and many homeowners are struggling to navigate through it.

Common problems our clients report during the modification process: 
  • Banks asking homeowners to send and resend paperwork
  • Banks losing paperwork
  • Banks failing to respond for weeks and then asking for new or updated paperwork
  • Banks continuing with the foreclosure process while reassuring homeowners that everything “will be taken care of” before the foreclosure sale
  • Banks refusing to make a trial modification permanent
  • Banks not making it clear that after the “trial period” payments under a modification might go up, even sometimes higher than the original mortgage amount
What to Watch Out For:
  • Be skeptical of organizations promising a loan modification in exchange for payment. 
        No one, including attorneys, can force the lenders to grant a loan modification.

What We Can Do to Help:

Depending on your circumstances, we can sue banks and lender to enforce the promises they made to you that they didn't keep.

We can also work to hold lenders accountable for false promises and for misleading consumers. For example, if the bank offered you a trial modification and led you to think it would be permanent or if the bank gave you a permanent modification but later tried to reject it, we can help.

Call us at (520) 495-7596 or us for an appointment.