Lawyer for Loan Modification

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 4,009 reviews

Jump to Section

Need help with a Loan Agreement?

Post Project Now

Lawyer for Loan Modifications: 4 Reason to Hire a Lawyer

A loan modification is a way to change the terms of your mortgage agreement to make payments more affordable. It can include things like reducing the interest rate or extending the length of the loan term. If you are having trouble paying off your mortgage, a lawyer can help you navigate the process to get back on track with your finances.

A good loan modification lawyer will be able to help guide you through all of the steps involved in getting approved for a loan modification. They will be able to explain how each step works and what documents need to be submitted at each stage to move forward smoothly without any delays or hold-ups along the way.

What Does a Lawyer for Loan Modifications do?

A lawyer for loan modifications does precisely what it sounds like: they help you modify your home mortgage so that you can keep paying it and stay in your house.

If you're facing foreclosure and need to modify your loan, a lawyer can help you navigate the process of applying for and receiving a modification. They can also help you understand the terms of the modification, which may include lower payments or an extension on the date of your first payment.

What are the Responsibilities of a Lawyer for Loan Modifications?

The responsibilities of a lawyer for loan modifications are as follows:

  • Determine the best course of action based on the client's needs and circumstances.
  • Advise the client on how to proceed with their case and available options.
  • Review any documents the client provides and ensure they are legally sound.
  • Make sure that all documents are filed correctly and on time.

What Types of Contracts are Covered by a Lawyer for a Loan Modification?

When you're in the middle of a loan modification, it can feel like you have to do everything on your own. However, if you're considering hiring a lawyer, knowing what type of contracts are covered by their work is essential. The most common contract types include:

  • Mortgages and Deeds

    Mortgages and deeds of trust are the most frequently used types of loans. Mortgage contracts are legally binding agreements between two parties that outline the terms and conditions of a loan. Deeds of trust are similar to mortgages but often have stricter terms and conditions than a mortgage.

  • Credit Card Agreements

    Credit card agreements are also widespread in loan modification cases, as credit cards are a popular way to pay for loans and other purchases. Credit card agreements specify how much you can borrow from the bank, what interest rate you'll pay on your debt, and other essential factors like late fees or default charges.

  • Auto Loan Agreements

    Auto loan agreements cover car purchases and lease-to-purchase agreements between buyers/lessees and sellers/lenders. They outline all terms associated with borrowing money for a car purchase or lease agreement, including monthly payments, total cost of ownership over time, etc., or any penalties for late or nonpayment (such as repossession).

  • Student Loans

    When you have student loans, there are two basic ways a lawyer can help you. First, you may be able to lower the interest rate on your loans, which will save you money over the life of your loan. Second, if the school you went to was fraudulent or predatory, your lawyer may be able to get your loans discharged. It means your lender cannot force you to repay a loan if it is voided.

  • Home Equity Lines of Credit (HELOCs)

    A home equity line of credit is an unsecured loan where you borrow money from your home's equity instead of a bank or financial institution. You use this money for renovations, paying debt, or starting a business. Sometimes you might struggle to make payments on this kind of loan due to financial difficulty. In that case, a lawyer can help negotiate with your lender so that they'll give you more time before charging interest or lower the interest rate so that it's easier to pay off those debts.

Meet some lawyers on our platform

Briana C.

60 projects on CC
View Profile

Justin K.

3 projects on CC
View Profile

Ryenne S.

130 projects on CC
View Profile

Kristen R.

40 projects on CC
View Profile

What are the Tips to Remember While Having a Loan Modification Crisis?

If you are in a loan modification crisis, there are some things you should keep in mind.

  • Keep Copies of All Documents Related to Your Loan and Communication with Your Lender.

    Keeping copies of every document related to your mortgage is good. It includes the original contract, any paperwork you have signed or received from financial institutions, and any letters or emails you've sent or received from them. Keeping these documents will help you prove that you're a good borrower in case of any disputes down the road.

  • Ask for Help from a Lawyer If You Have Trouble Paying.

    Sometimes it can be hard to figure out what's going on with your mortgage and how to get out of trouble. If this happens to you, consider talking to an attorney specializing in this area. They'll be able to help guide you through the process and ensure that your rights are protected.

  • Do Not Ignore Calls from Your Lender.

    When you are in a loan modification crisis, it is always essential to maintain good communication with your lender. If they call you, pick up the phone and respond promptly. If they leave a voicemail, listen to it and revert. If they have sent an email to you, read it and answer.

  • Always Read a Contract Before Signing It.

    Before signing any paperwork or documents relating to your loan modification crisis, make sure you have read through the fine print. It will help ensure that there are no errors or mistakes in the document that could cost you more money or make things more difficult for you later on when trying to get out of this situation.

What Are the Key Clauses Used in Loan Modifications?

When looking for a loan modification, you should be familiar with the key clauses used to determine what your loan modification will look like.

  • Covenants: These terms of your contract can range from the length of your repayment period to the amount of interest you pay on your loan.
  • Value of Collateral Involved: This is an essential part of your loan modification because it determines how much money is at stake if you fail to make payments on time or meet other requirements of the agreement.
  • Guarantees: A guarantee is an agreement between two parties in which one party agrees to take responsibility for another's debt in case they fail to pay it back in full or on time.
  • Interest Rate Terms: Interest rates are the amount you're charged for borrowing money. The higher your interest rate is, the more expensive it will be for you to borrow money. The lower your interest rate is, the less expensive it will be for you to borrow money.
  • Duration of Loan Repayment: A longer repaying duration gives the borrower extended time to repay the amount. In contrast, a shorter period makes the borrower repay the loan much faster.


If you are facing a foreclosure and need to modify your loan, the last thing you want to do is spend your time and energy on an application process that might not work. You want a lawyer to help you ensure your application is as thorough and complete as possible.

We understand that applying for a loan modification can be confusing and frustrating at Contracts Counsel. Our lawyers have helped hundreds of people through the process, so we know what it takes to get results. We'll take care of everything so that all you have to worry about is keeping your house.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

Jo Ann J. on ContractsCounsel
View Jo Ann
5.0 (6)
Member Since:
February 22, 2021

Jo Ann J.

Free Consultation
Get Free Proposal
Boston, MA
27 Yrs Experience
Licensed in MA
Suffolk Universtiy Law School

Jo Ann has been practicing for over 20 years, working primarily with high growth companies from inception through exit and all points in between. She is skilled in Mergers & Acquisitions, Contractual Agreements (including founders agreements, voting agreements, licensing agreements, terms of service, privacy policies, stockholder agreements, operating agreements, equity incentive plans, employment agreements, vendor agreements and other commercial agreements), Corporate Governance and Due Diligence.

Don G. on ContractsCounsel
View Don
5.0 (9)
Member Since:
March 1, 2021

Don G.

Attorney at law
Free Consultation
Get Free Proposal
Lafayette, LA
22 Yrs Experience
Licensed in TX
Texas Tech School of Law

Texas licensed attorney specializing for 20 years in Business and Contract law. My services include General Business Law Advisement; Contract Review and Drafting; Legal Research and Writing, including Motion Practice; Business Formation; Article or Instructive Writing; and more. For more insight into my skills and experience, please feel free to visit my LinkedIn profile or contact me with any questions.

Benjamin W. on ContractsCounsel
View Benjamin
5.0 (25)
Member Since:
March 11, 2021

Benjamin W.

Free Consultation
Get Free Proposal
Los Angeles, CA
8 Yrs Experience
Licensed in CA
UCLA School of Law

I am a California-barred attorney specializing in business contracting needs. My areas of expertise include contract law, corporate formation, employment law, including independent contractor compliance, regulatory compliance and licensing, and general corporate law. I truly enjoy getting to know my clients, whether they are big businesses, small start-ups looking to launch, or individuals needing legal guidance. Some of my recent projects include: -drafting business purchase and sale agreements -drafting independent contractor agreements -creating influencer agreements -creating compliance policies and procedures for businesses in highly regulated industries -drafting service contracts -advising on CA legality of hiring gig workers including effects of Prop 22 and AB5 -forming LLCs -drafting terms of service and privacy policies -reviewing employment contracts I received my JD from UCLA School of Law and have been practicing for over five years in this area. I’m an avid reader and writer and believe those skills have served me well in my practice. I also complete continuing education courses regularly to ensure I am up-to-date on best practices for my clients. I pride myself on providing useful and accurate legal advice without complex and confusing jargon. I look forward to learning about your specific needs and helping you to accomplish your goals. Please reach out to learn more about my process and see if we are a good fit!

Rebecca L. on ContractsCounsel
View Rebecca
5.0 (1)
Member Since:
April 6, 2021

Rebecca L.

Free Consultation
Get Free Proposal
San Diego, CA
12 Yrs Experience
Licensed in CA, DC, VA
New England School of Law

I absolutely love helping my clients buy their first home, sell their starters, upgrade to their next big adventure, or transition to their next phase of life. The confidence my clients have going into a transaction and through the whole process is one of the most rewarding aspects of practicing this type of law. My very first class in law school was property law, and let me tell you, this was like nothing I’d ever experienced. I remember vividly cracking open that big red book and staring at the pages not having the faintest idea what I was actually reading. Despite those initial scary moments, I grew to love property law. My obsession with real estate law was solidified when I was working in Virginia at a law firm outside DC. I ran the settlement (escrow) department and learned the ins and outs of transactions and the unique needs of the parties. My husband and I bought our first home in Virginia in 2012 and despite being an attorney, there was so much we didn’t know, especially when it came to our HOA and our mortgage. Our real estate agent was a wonderful resource for finding our home and negotiating some of the key terms, but there was something missing in the process. I’ve spent the last 10 years helping those who were in the same situation we were in better understand the process.

Jeremiah C. on ContractsCounsel
View Jeremiah
4.9 (18)
Member Since:
March 5, 2021

Jeremiah C.

Partner/Attorney at Law
Free Consultation
Get Free Proposal
Houston, TX
15 Yrs Experience
Licensed in NV, TX
Thomas Jefferson

Creative, results driven business & technology executive with 24 years of experience (13+ as a business/corporate lawyer). A problem solver with a passion for business, technology, and law. I bring a thorough understanding of the intersection of the law and business needs to any endeavor, having founded multiple startups myself with successful exits. I provide professional business and legal consulting. Throughout my career I've represented a number large corporations (including some of the top Fortune 500 companies) but the vast majority of my clients these days are startups and small businesses. Having represented hundreds of successful crowdfunded startups, I'm one of the most well known attorneys for startups seeking CF funds. My engagements often include legal consultation & advisory roles, drafting of NDAs, TOS & Privacy Policies, contracts and corporate law, business strategy advice & consulting, in-house counsel, Founder & entrepreneur guidance and other roles as needed by my clients. I hold a Juris Doctor degree with a focus on Business/Corporate Law, a Master of Business Administration degree in Entrepreneurship, A Master of Education degree and dual Bachelor of Science degrees. I look forward to working with any parties that have a need for my skill sets.

Meghan P. on ContractsCounsel
View Meghan
4.8 (5)
Member Since:
February 15, 2021

Meghan P.

Free Consultation
Get Free Proposal
5 Yrs Experience
Licensed in CA
University of Dayton

I am a licensed attorney and a member of the California Bar. I graduated from the University of Dayton School of Law's Program in Law and Technology. I love IP, tech transfers, licensing, and how the internet and developing technology is changing the legal landscape. I've interned at both corporations and boutique firms, and I've taken extensive specialized classes in intellectual property and technology law.

Charlotte L. on ContractsCounsel
View Charlotte
4.6 (2)
Member Since:
February 25, 2021

Charlotte L.

Self-Employed Legal Consultant
Free Consultation
Get Free Proposal
Arlington, VA
9 Yrs Experience
Licensed in DC, VA
University of Virginia School of Law

I hold a B.S. in Accounting and a B.A. in Philosophy from Virginia Tech (2009). I received my J.D. from the University of Virginia School of Law in 2012. I am an associate member of the Virginia Bar and an active member of the DC bar. Currently, I am working as a self-employed legal consultant and attorney. Primarily my clients are start-up companies for which I perform various types of legal work, including negotiating and drafting settlement, preparing operating agreements and partnership agreements, assisting in moving companies to incorporate in new states and setting up companies to become registered in a state, assisting with employment matters, drafting non-disclosure agreements, assisting with private placement offerings, and researching issues on intellectual property, local regulations, privacy laws, corporate governance, and many other facets of the law, as the need arises. I have previously practiced as an attorney at a small DC securities law firm and worked at Deloitte Financial Advisory Services LLC. My work experience is dynamic and includes many short-term and long term experience that span across areas such as maintaining my own blog, freelance writing, and dog walking. My diverse background has provided me with a stong skill set that can be easily adapted for new areas of work and indicates my ability to quickly learn for a wide array of clients.

Adam B. on ContractsCounsel
View Adam
Member Since:
March 5, 2021

Adam B.

Managing Partner
Free Consultation
Get Free Proposal
San Mateo, California
25 Yrs Experience
Licensed in CA
McGeorge School of Law

Seasoned technology lawyer with 22+ years of experience working with the hottest start-ups through IPO and Fortune 50. My focus is primarily technology transactions with an emphasis on SaaS and Privacy, but I also provide GC services for more active clients.

Ema T. on ContractsCounsel
View Ema
Member Since:
March 12, 2021

Ema T.

Contract and IP Attorney
Free Consultation
Get Free Proposal
New York, NY
5 Yrs Experience
Licensed in NY
Chicago Kent

I am a NY licensed attorney experienced in business contracts, agreements, waivers and more, corporate law, and trademark registration. My office is a sole member Law firm therefore, I Take pride in giving every client my direct attention and focus. I focus on getting the job done fast while maintaining high standards.

David B. on ContractsCounsel
View David
Member Since:
April 1, 2021
Samantha B. on ContractsCounsel
View Samantha
Member Since:
April 15, 2021

Samantha B.

Principal and Founder
Free Consultation
Get Free Proposal
9 Yrs Experience
Licensed in FL, IL
Ave Maria School of Law

Samantha has focused her career on developing and implementing customized compliance programs for SEC, CFTC, and FINRA regulated organizations. She has worked with over 100 investment advisers, alternative asset managers (private equity funds, hedge funds, real estate funds, venture capital funds, etc.), and broker-dealers, with assets under management ranging from several hundred million to several billion dollars. Samantha has held roles such as Chief Compliance Officer and Interim Chief Compliance Officer for SEC-registered investment advisory firms, “Of Counsel” for law firms, and has worked for various securities compliance consulting firms. Samantha founded Coast to Coast Compliance to make a meaningful impact on clients’ businesses overall, by enhancing or otherwise creating an exceptional and customized compliance program and cultivating a strong culture of compliance. Coast to Coast Compliance provides proactive, comprehensive, and independent compliance solutions, focusing primarily on project-based deliverables and various ongoing compliance pain points for investment advisers, broker-dealers, and other financial services firms.

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call