A loan modification is the process of modifying your existing loan to make your payments more affordable.  A loan modification is a change to a loan contract agreed to by both the lender and the borrower.  The goal is to make the loan affordable for the long term.

Examples of hardships that may result in modifications that are approved include illness of the borrower, illness of a borrower’s family member, decrease in income, loss of employment, inability to sell the residence, job relocation, death of a borrower, military duty or numerous other reasons.

Loss mitigation is a process that has to do with new terms agreed to by both the lender and the borrower so that the lender receives their money back and the borrower can make their monthly payments.

A loan modification attorney is useful because sometimes you get different answers from different customer service representatives each time you contact the lender.  Also, sometimes customer service representatives are not equipped to be able to assist you.  A loan modification attorney can help you get the results you want from your lender.

As Southern Illinois Loan Modification Attorneys, we can assist, whether with respect to a loan modification, short sale, deed in lieu of foreclosure or litigation.

With a loan modification attorney, borrowers can be assured that any loan modification was done with an attorney looking out for them.

In regard to a home loan modification, having a law firm involved can mean that a lawyer may have experience and insight that provide a more expedient process, and a safer and more assured result for the client.

Banks have sometimes been criticized for referring struggling homeowners to call centers, where service is sometimes poor and inquiry waits are long.  A loan modification law firm can help in these areas.

We have been involved in various legal matters in numerous counties throughout Illinois, including Bond County, Clay County, Clinton County, Effingham County, Fayette County, Franklin County, Green County, Hamilton County, Jackson County, Jefferson County, Jersey County, Johnson County, Macoupin County, Madison County, Marion County, Monroe County, Perry County, Randolph County, St. Clair County, Salem County, Union County, Washington County, Wayne County, White County, Williamson County, Edwards County and including cities such as Belleville, Edwardsville, Collinsville, Alton, Carlyle, Greenville, Vandalia, Bloomington, Springfield, Vienna, Pinckneyville, Nashville, Jerseyville, Carrollton, McLeansboro, Carmi, Marion, Carbondale, Granite City, Gillespie and Brighton.