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Loan Modifications

Loan Modifications

A loan modification can help you avoid foreclosure by changing the terms of your existing mortgage. They can be a good option for homeowners facing unexpected financial difficulties or when a homeowner is in danger of losing their home. Loan modifications may include:

  • Lowering the interest rate
  • Extending the term of the loan
  • Changing the loan from adjustable to fixed-rate
  • Changing the monthly payment
  • Bringing the homeowner current
  • Repayment plans


There are multiple modification programs that may be available to address a homeowner’s unique situation. A loan modification is a viable option even with missed payments, a scheduled foreclosure date, or when the homeowner owes more on the home loan than the property is worth.


If you are facing foreclosure but are not eligible for a loan modification, there are other  alternatives including:

  • Short Sale
  • Deed In Lieu of Foreclosure
  • Forbearance
  • Repayment plan
  • Lump Sum payment
  • Bankruptcy

The attorneys at Jacovino Law have extensive experience representing many major financial institutions in foreclosure proceedings. This experience has given us knowledge of what these institutions typically look for when reviewing a homeowner’s request for a loan modification. We are also well versed in loss mitigation, the loan modification process, and lender requirements.

Our attorneys are dedicated to keeping client’s in their homes and ensuring the best legal outcome for every client’s unique situation.