Loan Modification – Lower Your Payments

  • Are you behind on your mortgage payments?
  • Is your monthly mortgage payment beyond your capacity to pay?
  • Does it look like you’ll never catch up on those payments?


If you answered yes to any of these questions a loan modification may be the answer.

Loan Modification

What is a Loan Modification?

The “Home Affordable Modification Program”, which is referred to as “H.A.M.P.” is a new federal law created to assist homeowners modify their mortgages to prevent foreclosures and the loss of their home from foreclosure. Through this program, it is possible to reduce the monthly payments through a loan modification. In most cases, a loan modification reduces the homeowners’ monthly payments by reducing the interest rate and making the mortgage current by adding any amount that is overdue to the end of the loan.

How Do You Get Your Loan Modified?

Through the loan modification process you must demonstrate to the lender that you have an existing hardship that makes it impossible for you to make your current monthly mortgage payment. If based on the proofs that you submit, you convince the lender that you have a hardship the lender may agree to change the terms of your loan to make it possible for you to meet your monthly payments.

What Do I Have To Do Prove I Have a Hardship?

As part of the loan modification application process detailed financial information, including your monthly income, expenses and assets must be submitted for review by the lender. The lender will ask you for copies of your most recent pay stubs, tax returns and a hardship letter that explains your financial situation and problems. The lender also has to be convinced that you will be able to make the new modified monthly mortgage payment.

I Have Heard That It’s Very Hard To Get A Loan Modified. Should I Even Try?

Yes – or at the very least you should have your situation evaluated. It is true that the loan modification process can be difficult. But, everyone’s situation is unique and there may be other solutions or options that may be more appropriate for you. You also want your application submitted correctly so that it has the greatest chance of success. There have been instances of an application being denied simply because a box was not checked off. When this happens an application has to be resubmitted with new updated information. All because of a small error! So while the loan modification process can be challenging, if handled correctly, the chances of success increase.

Why Call The Law Office Of Anthony J. Vignier?

At the Law Office of Anthony J. Vignier, your situation will be carefully evaluated. In addition, we will give you the best chance of success by submitting your application in a professionally prepared manner. Your application will also be monitored on an ongoing basis to make sure the lender is working on your file. In this way, any objections that are raised by the lender can be addressed in a timely manner therefore giving you the greatest chance for success so that you can move on with your life.

Call the Law Office of Anthony J. Vignier today at 800-707-5252 to discuss your options in confidence.

Put your past behind you and make tomorrow a new and better day!