Getting a loan modification approved can be difficult if you attempted the process without the help of an experience foreclosure defense attorney. An experience foreclosure attorney will ensure that all of the forms are completed correctly and submitted on time. How you handle a denial will depend on the reason your application for a loan modification was denied.

In some situations, such as the following reasons for denial, you can resubmit your loan modification request.

  • You missed the monthly deadline for submitting updated information
  • You did not resubmit “lost” documents by the deadline
  • You forgot to sign one of the documents
  • You were missing or submitted insufficient documentation
  • You incorrectly calculated your income
  • You incorrectly calculated your debt-to-income
  • Other incorrect information was submitted

If your debt-to-income ratio is off balanced and too heavy on the side of debt, or your financial situation does not seem likely to end any time soon, the bank may feel that even if granted a loan modification, you may fall behind once again on payments. With the aid of a foreclosure defense attorney, your finances will be properly calculated and presented to the bank.

You are more likely to receive a favorable outcome if you enlist the help of an experience foreclosure defense attorney at Merritt Law Office. The reason being that over the course of the last 18 years, we have seen what does and does not work during the loan modification process. We know how to highlight your unique financial situation so that it stands out to the bank representative and makes them want to help you during your time of need.

In addition, Merritt Law Office also has experience in filing for bankruptcy. If your financial situation is dire and unlikely to return to normal in a promising time frame, we won’t waste your time by attempting to file for a loan modification when your better option is filing for bankruptcy. With our experience we will help you to determine the best course of action for your financial future.