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NYC Area Loan Modification Lawyer

Brooklyn, Bronx, Manhattan, Staten Island and Long Island loan modification attorney helps clients avoid foreclosure

The Making Home Affordable® Program (MHA)® is a free federal program that assists homeowners who have difficulty making their monthly mortgage payments. For homeowners that desire to remain in their homes, MHA provides programs to lower your monthly payments by make a loan modification. If your home is worth less than your mortgage loan’s outstanding balance, you may even qualify to reduce the principal owed on your loan. Our loan modification lawyer, serving all of Brooklyn, Bronx, Manhattan, Staten Island and Long Island, can help you get the mortgage relief you need to help you avoid bankruptcy.

Home Affordable Modification Program (HAMP)

If you are employed but having trouble making your monthly mortgage payments the federal Home Affordable Modification Program (HAMP) may reduce your monthly payments so that you can afford to stay in your home. This program had been available only to those who currently occupied their home as a principle residence, but as of June 1, 2012, the program was expanded to include:

  • Mortgage modification for owners of properties that are rented
  • Homeowners who had previously been denied loan modifications because their debt-to-income ratio was 31 percent or lower
  • Homeowners who had previously defaulted during their HAMP trial period
  • Homeowners who had previously defaulted in the HAMP loan modification

Principal Reduction Alternative (PRA)

If you qualify for the Principal Reduction Alternative (PRA), your mortgage loan may be modified to reduce the principal owed on your mortgage loan. There are a number of qualifications, including:

  • The fair market value of your home is less than the principal balance of your mortgage loan
  • The home is your principal residence
  • Your loan is not owned or guaranteed by Fannie Mae or Freddy Mac
  • Your outstanding balance is $729,750 or less
  • You have sufficient income to afford the modified monthly payments

Other loan modification programs are also available, including:

Let an experienced Brooklyn, Bronx, Manhattan, Staten Island and Long Island Lawyer help you avoid foreclosure

If you live in the New York City area, contact the Law Office of Gregory Messer online or at 718-717-2368 to schedule a free initial consultation. Our office is located across the street from the U.S. District Bankruptcy Court in Brooklyn and is close to the Borough Hall and Court Street subway stations. We serve residents throughout New York City and Long Island.

To ensure every client receives the personal attention he or she deserves, we are an appointment-only law firm with flexible hours adjustable to fit your needs.


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