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Garmo & Garmo Attorneys at Law LLP
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619-441-2500

Loan Modification

The idea of losing your home is difficult to handle, so you shouldn’t have to cope with it alone. With an experienced loan modification attorney, you can prevent losing your home, and modify your loan to an amount you can afford. We have processed numerous loan modifications, which have helped people who have struggled with their mortgage.

In any unstable economy, many homeowners find themselves victim to the real estate crisis and to unethical real estate agents or attorney backed companies who represent themselves as lawyers offering loan modification
services. At Garmo and Garmo, LLP, we offer this service to our clients, and will work with you for real results. Our office is able to accomplish this with a simple flat fee, most of which is refundable to you if we are not able to get your loan modified and no fee is ever requested to begin the case.

Simply put, a loan modification is a permanent change in one or more of the terms of a borrower’s loan. In recent years, several programs have been set up to make loan modifications more easily accessible. A successful modification allows a loan that has been defaulted to be reinstated, and results in a modification to a loan payment the borrower can afford.

Mortgages are modified to the benefit of the borrower in one or more of the following ways:

  • Reduction in interest rate, or a change from a floating to a fixed rate, or in how the floating rate is computed
  • Reduction in principal
  • Reduction in late fees or other penalties
  • Lengthening of the loan term
  • Capping the monthly payment to a percentage of household income
  • Mortgage forbearance program

The problem most people face when trying to modify their loan without an attorney is dealing with their lender. Normally, this is a conventional bank. The bank is processing thousands of modification applications simultaneously and you become a number to them. It is difficult to contact them and to get any progress. Our office is experienced and aggressive in dealing with banks and other lenders who make the process tricky. We know how the banks and lenders operate and can expedite the process. Our experience allows us to get your loan modified and approved quickly, with terms you will be happy with.

More Information:

For more information regarding a Loan Modification, please call Garmo and Garmo, LLP at 619-441-2500 for a free consultation or send us a message for a free case evaluation.

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