
ROBINSON LAW OFFICE PLLC

MORTGAGE LOAN MODIFICATION
Contact Robinson Law to help you modify your loan. A few hours a week on the phone with the loan company and trying to identify the right papers to send in for consideration can be daunting. We can help!
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What is a Loan Modification?
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When the lender and borrower enter into a new agreement that modifies the original agreement. For example, a Bank may allow a Homeowner to defer or delay several monthly payments without any penalty based on changed circumstances.
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What Parts of the Loan can be Modified?
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There are several components to a loan.
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The Rate, or Interest
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The Term which is a number of months or years
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The Principle which is the total owed
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The Payment which is the amount you must pay each month
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Penalties -- Some loans have early repayment fees.
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Costs -- These are the "fees" that are charged to get or modify the loan
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First payment due date