The Law Offices of Edmond R. Foy, PLLC

Loan Modifications in
Suffolk County, New York

Our loan modification service has handled over 2,000 modifications with a 90% success rate; 80% of our modifications are achieved within 6 months and our average approval takes approximately 3 – 4 months. Whether your home is in foreclosure and you want to keep your house or you are current on all mortgage payments but simply want a better monthly payment, The Law Offices of Edmond R. Foy, PLLC is the right choice for your household.

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What is a Loan Modification?

A Loan Modification is a permanent change to one or more of the terms of your loan. Loan Modifications may include a change in the interest rate; extension of the mortgage term and/or re-amortization of the balance due; as well as a principle reduction.

Apply for a Loan Modification is the process of asking your lender to simply change the terms of your mortgage (i.e. change the interest rate, the amount of years that payments must be made, and even the actual amount that is owed to the bank a.k.a. principle reduction). Each Lender is different and has a different set of underwriting policies for approving loan modifications and these policies tend to change from time to time.

Contact us for a free consultation

to see if your household qualifies for a modification with your lender!

HAMP and other Government Loan Modification Programs

HAMP also known as the – Home Affordable Modification Program – is a government program that provides incentives to Banks to modify the mortgages of homeowners. All banks that received bailout money from the government must participate in HAMP programs. By providing incentives to Bank and by mandating their participation, HAMP modifications can bring your interest rate down as low as 2% and may even reduce your mortgage debt down to match your home’s current market value.
Homeowners that may be eligible for the Home Affordable Modification Program to include, but is not limited to:

  • Homeowners applying for a modification on a home that is not their primary residence, but the property is currently rented or the homeowner intends to.
  • Homeowners who previously did not qualify for HAMP because their debt-to-income ratio was either too low or too high.
  • Homeowners who previously received a HAMP trial period plan, but defaulted in their trial payments.

Contact The Law Offices of Edmond R. Foy, PLLC today for a free consultation and you will sit with a licensed attorney and a trained veteran underwriter with over 20 years experience in the mortgage underwriting industry who will review your unique circumstances to determine if you in fact qualify for a loan modification.

Are you Trying for a Modification on your own but the Banks are Dragging their Feet?

Many homeowners like yourself have attempted to apply for a Loan Modification from their bank without success. Sometimes it is simply a matter of organization and persistence, other times it is because the Bank is deliberately acting in bad faith. In prior lawsuits throughout the country bank employees have been placed on the stand and have admitted on the record that they were paid by the Bank to lie about losing loan modification documents and for denying qualifying Loan Modification applicants. When you retain the Law Offices of Edmond R. Foy we are prepared for these cases as well. When we believe that your bank is acting in bad faith we – free of charge – file complaints with the numerous Bank Regulators such as the OCC (Office of the Comptroller of the Currency), the CFPB (Consumer Financial Protection Bureau), NYS Banking Department, State Attorney General, Better Business Bureau, etc…). Through these complaints we apply enough pressure on your bank to force them to be accountable. If your case is either approaching or is currently in foreclosure, we can haul the bank’s into the State Supreme Court and make them answer for their actions there. With a service that has handled over 2,000 modifications with a 90% success rate, we’ve seen it all and have done it all. Call us today for a free consultation to see if we can help you and your family today!

Contact Edmond to Schedule Your Free Consultation

Please consult an attorney for advice about your individual situation. This site and its information is not legal advice, nor is it intended to be. Feel free to contact us by electronic mail, letters or phone calls. Contacting us does not create an attorney-client relationship. Until an attorney-client relationship is established, please withhold from sending any confidential information to us.