[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.fight13.com\/do-i-need-to-hire-a-lawyer-to-help-me-with-a-loan-modification#BlogPosting","mainEntityOfPage":"https:\/\/www.fight13.com\/do-i-need-to-hire-a-lawyer-to-help-me-with-a-loan-modification","headline":"Do I Need to Hire a Lawyer to Help me With a Loan Modification?","name":"Do I Need to Hire a Lawyer to Help me With a Loan Modification?","description":"Loan modification can be a tricky business.\u00a0 Many struggling homeowners believe that their loan servicer does not want to take their house, so a loan modification is a sure thing.\u00a0 Unfortunately, that is not the case.\u00a0 For starters, loan servicers exist to make a profit, not to help homeowners.\u00a0 Under...","datePublished":"2021-06-14","dateModified":"2025-09-19","author":{"@type":"Person","@id":"https:\/\/www.fight13.com\/attorneys\/matis-h-abarbanel#Person","name":"Matis Abarbanel","url":"https:\/\/www.fight13.com\/attorneys\/matis-h-abarbanel","identifier":55,"image":{"@type":"ImageObject","@id":"https:\/\/www.fight13.com\/wp-content\/uploads\/2025\/09\/matis-abarbanel_avatar-96x96.png","url":"https:\/\/www.fight13.com\/wp-content\/uploads\/2025\/09\/matis-abarbanel_avatar-96x96.png","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Loan Lawyers, LLC","logo":{"@type":"ImageObject","@id":"https:\/\/www.fight13.com\/wp-content\/uploads\/2020\/03\/icon-logo.png","url":"https:\/\/www.fight13.com\/wp-content\/uploads\/2020\/03\/icon-logo.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.fight13.com\/wp-content\/uploads\/2020\/04\/loan-modifications.jpg","url":"https:\/\/www.fight13.com\/wp-content\/uploads\/2020\/04\/loan-modifications.jpg","height":280,"width":410},"url":"https:\/\/www.fight13.com\/do-i-need-to-hire-a-lawyer-to-help-me-with-a-loan-modification","about":["Loan Modifications"],"wordCount":853,"articleBody":"Loan modification can be a tricky business.\u00a0 Many struggling homeowners believe that their loan servicer does not want to take their house, so a loan modification is a sure thing.\u00a0 Unfortunately, that is not the case.\u00a0 For starters, loan servicers exist to make a profit, not to help homeowners.\u00a0 Under Regulation X at 12 CFR 1024.41, every homeowner has a right to be reviewed for a loan modification.\u00a0 However, the right is only to be reviewed for a modification, not to be approved for a modification.\u00a0 Under Regulation X, the loan servicer must give you an answer on the modification within 30 days of receiving a complete loan modification package.\u00a0 However, the law allows servicers themselves to determine what a complete package looks like.Every loan servicer has a way of reviewing loan modification packages.\u00a0 Further, every loan owner and servicer has unique guidelines on who will qualify for a modification and under what circumstances. There are so many pitfalls when it comes to modification.\u00a0 Just trying to get a complete package in can be tricky.\u00a0 Although service is supposed to tell you within 5 days of receiving a package what, if anything, \u00a0is missing, it\u2019s not uncommon for them to wait weeks before advising you of what is missing.\u00a0 Then, by the time you supply the missing documents, all of the documents you submitted previously are stale and they will then send another letter telling you that you must provide all new documents.\u00a0 This can start a vicious cycle that could last for months.Another big issue is the amount of income a homeowner has.\u00a0 If a homeowner has too little income to support a modification payment, it will be denied.\u00a0 On the flip side, if a homeowner has too much income, that is also grounds to deny a modification. This is especially tricky for people who are self-employed or work on commissions.\u00a0 Knowing when to submit a loan modification request and how to submit a loan modification request simply comes with experience.\u00a0 So, while you may be able to obtain a loan modification on your own, having a law firm with a proven track record of success handling the modification request for you will usually greatly increase your odds of being approved.\u00a0 You may be thinking that maybe it\u2019s best to handle it on your own and then go to a lawyer if it’s denied.\u00a0 \u00a0That\u2019s also not a great idea.\u00a0 Once you have a loan modification denied, it may be more difficult to go back and get a proper second review.Click for more information on loan modification requirements.Further, what if the loan servicer does not give you an answer within 30 days?\u00a0 Well, you have a right to sue them for violating Regulation X, however, that needs to be set up properly.\u00a0\u00a0 At Loan Lawyers, when we represent someone for a modification, we use all of our experience and best judgment to submit the modification in such a way as to maximize our client\u2019s chance of success.\u00a0 Further, if the loan servicer does not provide a timely answer, we will often sue them in federal court.\u00a0 This may result in them settling the federal case in such a way that includes loan modification.If someone is sick, they will go to a doctor because that doctor has the training and experience to deal with whatever malady they are facing.\u00a0 Falling behind on a mortgage is a legal problem that also needs a professional with the training and experience to handle that matter for you.\u00a0 We have seen time and again clients who have tried to resolve everything themselves with the expectation that their loan servicer is going to help them out, just to be disappointed and face a foreclosure sale and a much more difficult situation.If you find yourself behind on your mortgage and are thinking about a loan modification, call Loan Lawyers now for your free consultation with an experienced attorney to go over your options.\u00a0 Getting the right legal help early will likely increase your chances of saving your home before things snowball out of control, which can happen fast for homeowners behind on their mortgage.\u00a0 Call Loan Lawyers now for your free consultation with an experienced Fort Lauderdale loan modification lawyer\u00a0at 1-888-FIGHT-13.About the AuthorLatest PostsMatis AbarbanelMatis Abarbanel is the founding partner and senior attorney at Loan Lawyers in South Florida. He focuses his practice on consumer rights, helping homeowners navigate issues such as foreclosure and financial hardship. Matis also brings a wealth of experience from his previous work in personal injury law. As a devout Chasidic Jew, he is committed to making a positive impact in his community and dedicates his efforts to charitable initiatives through his non-profit organization, The Center, which aids at-risk Jewish youth. Matis actively serves clients across South Florida and is passionate about empowering individuals to secure their rights and achieve a better future.When Foreclosure Errors by Lenders Lead to Legal Remedies for Homeowners in Fort LauderdaleWhat Homeowners Can Do When Loan Documents Contain Forged or Altered SignaturesUnderstanding Florida\u2019s Debt Forgiveness Programs and IRS Rules"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Do I Need to Hire a Lawyer to Help me With a Loan Modification?","item":"https:\/\/www.fight13.com\/do-i-need-to-hire-a-lawyer-to-help-me-with-a-loan-modification#breadcrumbitem"}]}]