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Loan Modification

When dealing with an underwater mortgage where the loan amount significantly exceeds the value of the home, a loan modification becomes an attractive option. We are at the forefront of foreclosure litigation and have seen a dramatic shift in behavior and attitude of lenders concerning loan modifications. Our clients have received exceptional modifications with lower interest rates and monthly payments.

Favorable loan modifications include the following:

  • Romeoville, Illinois 
    Coordinated with loan servicer to prevent filing of foreclosure action for twelve months and successfully secured a loan modification decreasing the monthly payment by 24% and reducing interest rate from 6% adjustable to 3.25% fixed.​

  • Aurora, Illinois 
    47% principal balance reduction from $111,148.14 to $58,800, resulting in monthly mortgage payments reduced by $837.99, from $1,312.27 to $438.28. Adjustable interest rate reduced from 8.5% to 2% fixed

  • Naperville, Illinois
    Residential mortgage from Ocwen Financial Corporation. Principal balance reduction in the amount of $102,960 from $339,960 to $237,000. Interest rate reduction from 10.125% to 3.53%.

  • Homer Glen, Illinois
    Worked closely with the loan servicer to prevent the filing of a foreclosure complaint for twenty months. Obtained a loan modification that forgave $231,108.39 of principal.

  • Bloomingdale, Illinois
    Monthly payment reduced from $4,307 interest only to $2,614.80 Principal and Interest. Interest rate reduced from 6.875% to 2% for the first five years.

There has never been a better time than now to seek a loan modification. Whether you are current with your payment, or behind and are facing foreclosure, we can help you through all the stages of a loan modification.

Success Stories

Batavia, Illinois August 2019
Client defaulted on rental property.

Extensive work with lender resulted

in significant loan modification. Payment reduced from $3,389 to $2,083.32.

Interest rate reduced from 4.625% 

to 2.625%.

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