Contact now for a free consultation:
(201) 355-0054



A Loan Modification reduces your monthly payment by lowering your interest rate, changing the term of your loan to a longer term, or by deferring or forgiving a portion of what is owed. Applying for a loan modification can be an arduous process, with endless documents requests which often lead to denials based on "insufficient documentation" or similar reasons. After such a frustrating process, homeowners often want to give up. We can help with the process to try and ensure that your application is reviewed for any eligible programs. We can appeal denials and even try to get the bank to review for a modification after a prior denial.

Modification is one of the primary means through which we can help clients resolve a foreclosure, and we recommend applying for a modification while simultaneously mounting a defense to your foreclosure action in court. Remember that modification programs are always changing and even where a modification has been denied previously, or defaulted on previously, a new modification may still be possible.

Our attorneys have previously helped clients obtain modifications from a large number of lenders and servicers including:

Mortgage Lenders and Loan Servicers are required to adhere to various rules and requirements when it comes to reviewing a homeowner for a potential loan modification. The purpose of these rules is to try to create some uniformity and fairness in the modification review process. Despite these rules, lenders and servicer sometimes fail to follow them and they can be liable for failing to do so under Federal Regulation X or Regulation Z. Some of the requirements they are obligated to follow are: 

  • Obey rules which are set forth by the CFPB (Consumer Finance Protection Bureau) under TILA and RESPA laws

  • Must issue a decision within 30 business days of receipt of a "complete" application. Often times, servicers try to impede an application becoming "complete" by constantly requiring additional documents. This can result in a modification review taking many months. It is important to stay vigilant during this process and not give up.

  • Must contact the borrower and indicate if there are any missing documents or additional documents needed before a decision is made. Again this is an avenue by which the application process can be prolonged and frustrated, as often times the bank will claims that a homeowner failed to provided a needed document, when in reality, they had never communicated the request for the missing and/or additional documents.

  • Must review for a modification or other loss mitigation option if there are at least 37 days to do so. The 37 day requirement is something the banks often use as an excuse to not review for a modification. The best way to avoid this issue is get started on a modification earlier and not wait until the last minute before a sheriff sale. However, where there are time limitations restricting this timeframe, our attorneys have previously successfully gotten applications under review despite this rule, either through working with the servicer, their attorneys, or through making an emergent application to the Court.

Contact us to get more information on how we can help you apply for a loan modification.



151 W. Passaic Street

Rochelle Park, NJ 07662


TEL. (201) 355-0054

© 2023 by HARMONY. Proudly created with Wix.com