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Areas of Practice
The Loan Modification Process


Pre-Qualification
We will sit down with you to discuss your financial situation and hardship, gathering as much pertinent information as possible and formulating a plan to approach your lender.


Documentation
An information packet is given or sent for you to fill out and return. At this point you will need to provide documentation illustrating your hardship as well as information requested to complete the package that will be sent to your lender. A Third Party Authorization Form will be signed enabling us to act as a moderator between you and your lender. You will then return your documentation and packet to us.


Package
We will review your package and make sure it is as accurate and complete as possible before sending it to your lender. We will take time to help you produce a well-crafted and articulate hardship letter to increase your chance of a successful modification.
At this time, the initial portion of your attorney fee is due.


Proposal
We will then discuss the most viable option for your financial situation and create a new plan to help you make your monthly payments going forward. The proposal of your restructured loan and your completed package is then sent to the lender.


Negotiation
The period between submitting and receiving acceptance from your lender is estimated at anywhere between 30-90 days. This waiting period may involve substantial negotiation to make the proposed modification attractive to the lender and affordable for you. Although it is possible that they will accept your first offer, you should be prepared to undergo many revisions.


Acceptance
Our goal is to reach an agreement with your lender, who will then send a letter of acceptance. When both you and the lender have accepted the proposed modification, you are ready to go!
At this time, the remaining portion of your attorney fee is due.



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Spillane
Call or Email Us Today! 877-649-5508
Quincy - 617.328.9100    |     Hanover - 781.829.9993
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Spillane Law Offices represents clients in the South Shore and Boston area and all of Massachusetts including Abington, Boston, Braintree, Bridgewater, Brockton, Cohasset, Dedham, Duxbury, Hingham, Hanover, Hanson, Hull, Kingston, Marshfield, Milton, Norwell, Pembroke, Plymouth, Quincy, Rockland, Scituate, Stoughton, Weymouth, Whitman, and more.
See our Office Locations in Quincy and Hanover.