Loan Modification & Loan Restructuring

Why Should I Use A Loan Modification Attorney?

The Law Offices of Kenneth H Dramer PC has a team of experienced New York based Loan Modification Attorneys and debt lawyers that are specialists in the field of renegotiating the terms of your existing home mortgage loans. We work for our clients with their lenders to come to a resolution. Our New York loan modification attorneys and mortgage relief specialists are fully licensed and committed to help you more capably pay back your loans.

Why YOU need a Loan Modification Attorney in New York

New York, you’ve probably all heard of a Loan modification or loan restructuring by now.  If you are experiencing a financial hardship that has effected your ability to make your monthly mortgage loan payments then a modification may be right for you.  We can negotiate the terms of your existing mortgage loan to make the payments more affordable for you.   This can mean a variety of changes such as:

  • Lowering your interest rate
  • Eliminating any balloon payments
  • Converting your loan from an adjustable rate to fixed 
  • Converting from interest only or negative amortization to fixed 
  • Extending your payable mortgage term to a longer period of time
  • Arranging for delinquent payments to be put on the end of your loan 
  • Arranging for delinquent payments to be paid back over time
  • Eliminating or reducing any delinquent payment amounts 
  • Arranging for your lender to accept a discounted pay-off or forbearance

Here are just a few examples of the many successful negotiations arranged through our Loan Modification Attorneys in New York

A loan modification is not the same as a refinancing as there is no new loan being issued but rather the existing loan that has already been issued is renegotiated to more beneficial and affordable terms for the homeowner or borrower. A loan modification can be done whether you are delinquent on your mortgage loan payments or not. With a loan modification, there is a change made to the existing mortgage contract which is agreed to by the lender and the borrower. This change to the mortgage can be made in the interest rate, the term of the loan, the amount of principal owed, or a combination of the rate, term and principal, in order to better suit the homeowner’s needs and ability to pay.

Loan modifications or loan restructurings can be a great way to prevent a foreclosure on your home. Whether you can’t make your current mortgage payments, or you can make your current mortgage payments, but you just can’t catch up on your past due amount, a loan modification might be the right strategy for you. Our loan modification attorneys and specialists will negotiate with your lender’s loss mitigation department for you in order to come to an agreement where the terms of the loan will become affordable and realistic. A modification or restructuring of your existing mortgage will immediately bring your account to a current status and will give you a second chance at being able to make your mortgage payments.

Trust a Loan Modification Attorney New York

The Law Offices of Kenneth H Dramer PC is a New York based debt and mortgage relief law firm that deals mainly around New York City including Brooklyn, Queens, The Bronx, & Staten Island as well as Long Island and beyond.  Our team of debt lawyers specialize in loan modification negotiations, as well as short sale and deed in lieu of foreclosure negotiations and other options, all to help you avoid foreclosure.

Read up on some Frequently Asked Questions about the Loan Modification Process

The Law Offices of Kenneth H Dramer PC also specializes in

At The Law Offices of Kenneth H Dramer PC, before we make a recommendations, our debt lawyers, mortgage relief specialists, and paralegals, ask the right questions to find out more in detail about your unique situation. Based on factors such as your income and financial hardship, we help determine which option will work best for you. We don’t only offer one choice since no one option can solve each of our clients’ specific needs. Call now and one of our debt lawyers is waiting to get you started on the road to a debt free and stress free future.  There is no obligation so don’t delay…CALL TODAY!


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*Individual results may vary based on consumer’s earnings, assets, and current mortgage loan situation.  Our law firm does not assume or pay your mortgage, nor provide credit or tax advice in relation to any forgiven amounts. Mortgage assistance does not obtain immediate repayment arrangements.  Mortgage assistance is not available in all states.

*Be wary of any company that tells you not to pay your mortgage loan as it may have a negative impact on your credit report and other consequences.  For example, your mortgage loan may continue to accrue late fees and penalties, you also may receive calls from your lender and/or their collectors, you could even be sued for non-payment.  If your lender obtains a judgment against you then you may lose your home.  Make sure you choose company that explains the benefits and consequences of each mortgage relief option.

*The information provided on this site is for general information and educational purposes only.  The information presented should not be considered legal advice, and should not be misconstrued as such, and should most definitely not be acted upon without first consulting with an attorney. The information is subject to change without notice. Consult a debt relief lawyer licensed in your jurisdiction for specific advice.

*We provide Debt Relief services and are a debt relief agency, as defined by the U.S. Congress. We proudly assist people filing for bankruptcy relief under the Bankruptcy Code as well as various other services to help avoid bankruptcy.