Congratulations on your decision to get started on the process of modifying your existing mortgage loan. This process can be complex and time consuming, but the sooner you get started, the sooner you will be making a lower monthly payment on your mortgage.
At JPS, we have experience in helping home owners navigate the complexities of this process. We can help you make the initial determination as to whether you might qualify for a loan modification under any of the current programs. We can help you structure a loan modification proposal that fits your budget and that is likely to be accepted by your lender. We can negotiate with your lender, on your behalf, to get you a loan modification with the most favorable terms. We can provide the appropriate legal analysis of your loan documents to determine whether there is any additional negotiating leverage. Finally, we can review your lender’s final loan modification documents for compliance with the terms of the modification and for various other legal issues, including indemnification and release provisions. Even the lenders recommend that you have these documents reviewed by a lawyer.
The first step in this process is simple, and it is free. In order to get started, you will need to provide us with certain information concerning your property, your mortgage loan, your income and your expenses. Once we receive this information, someone from our office will contact you to discuss the details of your particular situation and to discuss whether you might qualify for a loan modification. In the meantime, it will be important that you collect certain information and supporting documentation that we will need in order to start the loan modification proposal and negotiation process. If you decide to pursue a loan modification with us, you will be assured quality, professional service by a licensed California real estate and finance attorney. Our rates are reasonable, and we have payment plans available for those who might need it.
Basic Information
For your free initial consultation, please fill out the form below, and someone from our office will contact you.
Privacy Policy: We treat all information that you provide as strictly confidential and will only use this information to counsel you on loss mitigation or getting a loan modification. We will never disclose your name or information to any third-party without your permission. We will never sell your name and information to any third party marketer. By submitting the form above, you are requesting that someone from our offices contact you.
Additional Information and Documentation Required For Loan Modification
For Your Loan Modification Application
After the initial consultation, in order to process your request for a mortgage loan modification, we will need additional financial information and supporting documentation. Please start gathering this information. This information includes:
Complete copies of all loan documentation.
Information on your income and assets. (We will provide you with a form to help you gather this information.)
Information on your expenses and liabilities. (We will provide you with a form to help you gather this information.)
General information and financial information for both the borrower and any co-borrower. (We will provide you with a form to help you gather this information.)
Federal tax returns for the past two years, as well as a signed IRS request form. (We will provide you with the appropriate form.)
A letter from you to the mortgage lender explaining the problem that has caused the delinquency (if any) and any difficulty you are experiencing in making the payments under the loan, and how you have resolved or intend to resolve the problem(s). Please make this letter a very detailed letter. The letter you send to us will be treated as an initial draft. We will help to finalize the hardship letter before we submit it to the lender for consideration.
Various other information and documentation that we will explain during the consultation.
For Us To Represent You
In order to represent you, we will also need the following documents:
An executed copy of the Attorney/Client Retainer and Fee Agreement. (We will provide you with the Agreement.)
An executed copy of the Third Party Authorization. This document authorizes your mortgage lender to speak us regarding your loan. We will need one for every mortgage loan that you want modified. (We will provide you with the form.)
We look forward to working with you to help you keep your home and to get you into a mortgage with a monthly payment that you can afford.
