A loan modification is the permanent restructuring of a mortgage loan whereby one or more of the terms of a borrower’s loan are changed to provide a more affordable payment. Loan modifications are commonly the outcome of the lawsuits which we file and prosecute to stop residential foreclosures. Realistically achieving a significant and meaningful loan modification has proven to be an extremely demanding task without professional assistance.
The talented staff of Vilt and Associates, P.C. have years of experience at helping people just like you get their mortgage loans modified into financial terms which are favorable to our clients. Each of the attorneys at Vilt and Associates, P.C. are well trained in all significant types of mortgage loan modifications including, but not limited to, the following:
Fannie Mae Flex Modification Program
Mac Flex Modification Program
HARP (Home Affordable Refinance Program)
HAMP (Home Affordable Modification Program)
We have been able to get mortgage loans modified with a lower payment and in some cases even reduce the principal balance due to the value of the home declining subsequent to the date in which the home was purchased.