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Loan Modification

Long Island Loan Modification Attorney — Serving Long Island, New York City, Westchester County,

Helping Struggling Homeowners Achieve Their Goal

A loan modification is an option available to those homeowners who are having trouble making their monthly mortgage payments. Loan modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower.


You do not have to be facing foreclosure in order to seek a loan modification. If you are experiencing financial hardship, a loan modification is a way to reduce your monthly mortgage payments allowing you to stay in your home.


Contact our loan modification attorneys today to discuss how a loan modification can help you. 

How a Loan Modification Can Benefit You

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
  • Principal forbearance program

The borrower can be current, late, in default, in bankruptcy, or in foreclosure at the time the application for modification is made.


The process of obtaining a loan modification can be both overwhelming and daunting to the average homeowner. A homeowner will benefit tremendously by having a real estate attorney on their side when pursuing a loan modification. The reality is bank representatives respond more promptly to an attorney than they do to the average homeowner. Additionally, attorneys are knowledgeable of the legal issues that can be used to influence negotiations with the bank.


In seeking a loan modification for our clients, we will complete the application, gather all of the supporting documentation and submit a completed package to the lender. After submission of the completed loan modification package, we will speak

with the lender on your behalf and continuously follow up with the lender until they reach their decision. Jeanne M. Reardon is an experienced loan modification lawyerwho will speak to the lender on your behalf.


Read here to see how a HARP 2.0 Refinance can help you.

Contact Us

For a free consultation to discuss a condo closing or other real estate matter call our experienced real estate attorneys today at (516) 314-8433. Please e-mail your questions or comments to us so that we may better assist you.


Click Here for All Practice Areas

Jeanne Reardon is a real estate attorney serving clients in New York, Queens, Brooklyn, Bronx, and Staten Island, in New York County, Queens County, Kings County, Bronx County, and Richmond County, as well as, Long Island, Nassau County, Suffolk County and throughout Westchester County.