Loan Modification Attorneys – Tampa, Florida – Fernandez Law Group – Lower your interest rate, principal balance and avoid fees

Image of a home in a puzzle to represent the role of a loan modification

Banks strive to avoid foreclosure proceedings as much as the homeowner does. The foreclosure process is not only a lengthy process, but it creates additional costs for any parties involved. In many cases, the homeowner may have difficulty receiving their requested modification, however, Fernandez Law Group and our skilled attorneys have been extremely successful in working with the banks to reverse that trend.

Homeowners who are current, past due, in default, or already in foreclosure may opt to modify the original terms of their loan agreement with their lender. Lenders typically offer greater flexibility when modifying loans. By modifying the terms of the homeowners’ mortgage loans, lenders are able to offer monthly mortgage payments at a more affordable rate. Loan Modifications are implemented to make a property more affordable for a homeowner by altering loan factors such as interest rate, principal balance, late fees, or other loan penalties.

Our qualified attorneys are highly experienced at bringing the two parties together and aggressively securing the best loan modification plan for both the lender and the homeowner.

What is a Loan Modification?

A Loan Modification is an agreement that is negotiated with your lender whereby the original terms and conditions of the promissory note secured by your mortgage are changed. The change can be to one or more terms of the loan such as a reduction in the interest rate, an extension of the term for repayment, a reduction in the principal balance or any combination of these.

The most common misconception is that loan modification is easy to get and can be handled by simply applying with the lender. The reality is that most homeowners do not have the knowledge and resources needed to see success through the process. Many homeowners have great difficulties in the modification process party due to the misconception and misleading information that is displayed by the media and other sources that they seek information and help from. The percentage of homeowners that actually get permanent modifications is very low, and to often homeowners are denied because they do not understand how to properly structure their case for a modification.

Hiring a trained professional like those at the Fernandez Law Group can often reduce the amount of time and risk for error by processing your paperwork efficiently, and presenting your application in the exact manner that each lender wants it.

Prior to your free attorney consultation, our firm will perform the following:

  • Review your particular financial situation in detail during the application process to ensure that we have obtained all relevant information necessary to review your case and maximize your prospects for a successful modification.
  • Take down your financial information so that we can match with the program guidelines set forth by your investor/lender.
  • Review with you your current household budget to determine whether you qualify for the programs made available by your investor/lender.
  • Determine with you the maximum monthly mortgage payment you can afford to make given your current income if you were to receive a modification and recalculate that payment as necessary to ensure you are able to continue making any modified payment on a go forward basis.
  • Contact your lender to determine what modification programs are available and if you meet the particular guidelines of each program offered.
  • Upon obtaining the foregoing information, your case manager will review the information with you in detail and determine whether you wish to schedule a free consultation with the actual attorney who will represent you.


  • A client was working with a government recognized “Non Profit” – (Free Servicing Company) for a Loan Modification. The client was denied for all Loan Modification options. Our Firm WAS ABLE to get an alternative 3 month trial Loan Mod program! The old payment was $1865 and we negotiated a NEW Payment of just $1385, with 18 payments in rears!
  • Fannie Mae Trial Modification Plan: 3 month trial plan. Rate recast to take the old payment of $1382.00 PITI to the new payment PITI of $778.85. The term was extended to 40 years, with the client receiving a principle balance reduction of 20% to make the payment sustainable.
  • Lender Internal Trial Modification Plan: 3 month trial plan. Rate recast back to a 30 year term with an interest rate of 4.875%. The old payment was $2,851.52 PITI and the new payment is $2,340.00 PITI.
  • Fernandez Law Group successfully helped modify yet another loan recently, this one occurred late December 2011. The old payment was $937.34 per month, and the NEW Payment is now just $597.47 per month with 11 payments down deferred to the rear of the loan.

Our firm will perform all of the aforementioned services free of charge – prior to the attorney consultation without requiring you to enter into any contracts or to otherwise obligate yourself in any way. Information concerning applicable fees for services rendered will be made available at the homeowner’s and/or will be discussed in detailed during your consultation with one of our attorneys. Contact our office at 813-489-3222 for a free no-obligation consultation.

The information on this firm’s website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Additional information about Loan Modifications:

Call us today at 813-489-3222 for a FREE consultation.


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Content authored by Google+ icon Gaston Fernandez



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